The European Securities and Markets Authority (ESMA) will hold an open hearing for its Consultation Paper on draft Regulatory Technical Standards (RTS) under the Benchmarks Regulation (BMR) on Friday 29 May via conference call.
The consultation paper seeks the views of interested parties on the proposed draft RTS covering the governance of administrators, methodology of benchmarks, reporting of infringements, mandatory administration of critical benchmarks and the compliance statement. The consultation period will end on 8 June 2020.
This open hearing will primarily be of interest to administrators of benchmarks, contributors to benchmarks and users of benchmarks, but responses are also sought from any other market participant, including trade associations and industry bodies, institutional and retail investors, consultants and academics.
The indicative agenda for the hearing will follow the structure of the Consultation Paper and discuss the proposed draft RTSs according to the following headings:
- Governance arrangements;
- Methodology;
- Reporting of infringements;
- Mandatory administration for critical benchmarks; and
- Compliance statement.