The European Securities and Markets Authority (ESMA) has published a consultation paper on benchmark regulations, seeking stakeholder input on the proposed rules.
ESMA is looking for feedback specifically on the definition of benchmarks, measurement of their use, criteria for identification, endorsement of benchmarks and transitional provisions.
ESMA hopes to improve the governance and control of benchmarks by improving the quality of input data and ensuring “supervision and viability of critical benchmarks.
The consultation papers, which are now available, will be open until 30 June this year, and the feedback will be used “to finalise [ESMA’s] technical advice in time for the deadline.”