ESMA updates Q&As on the Benchmarks Regulation

Securities Markets Regulation
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Date: 16 February 2018

On 5 February 2018, the European Securities and Markets Authority (ESMA) published updated Questions and Answers (Q&As) regarding the implementation of the Benchmarks Regulation (BMR).

The Q&As include two new answers regarding the following topics:

 

  • Commodity benchmarks: how the threshold in the exemption under Article 2(2)(g) of BMR should be calculated; and
  • Definition of a benchmark and investment funds: clarification of the cases in which a benchmark is used to measure the performance of an investment fund.