Third Country Benchmark Administrators Struggle Ahead of BMR

Failure to comply by 2020 will result in EU supervised entities’ inability to invest in products that reference benchmarks not approved by Esma.

EU benchmarks

The European Benchmarks Regulation (BMR) comes into force January 2020, but the costly and complicated compliance process means big problems for ‘third country’ benchmarks, which could be exacerbated by the UK’s divorce from the European Union in March this year. 

The BMR targets conflicts of interest within benchmarks, specifically due to Libor and Euribor submission scandals. The regulation aims for stringent governance practices governing benchmark administrators and the data methodologies

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