State of play: on 29 June 2016, the Regulation was published in the Official Journal (L 171/1).
Review process started in the Commission.
Level 1
Commission
- 18 September 2013, the proposal was published.
- 18 March 2020, the Commission launched a consultation on a roadmap for the review of EU rules for financial benchmarks.
- 24 July 2020, the Commission proposed amendments to EU rules on financial benchmarks.
Parliament
- 31 March 2015, the ECON Committee adopted its report on the proposal.
- 7 April 2016, the ECON Committee approved the agreed text from the trilogue negotiations.
- 28 April 2016, the Parliament adopted the trilogue agreement in plenary.
- 19 January 2021, the plenary voted on orderly termination of benchmarks
- 2 February 2021, the Council adopted amendments to the so-called Banchmark Regulation adopting new rules addressing LIBOR cessation.
Council
- 17 May 2016, the Council formally adopted the text.
Level 2
- 29 September 2017, the Commission adopted a delegated regulation on the criteria to be applied for assessing whether certain events would result in significant and adverse impacts on market integrity, financial stability etc.
- Acts on Benchmarks Regulation
- 7 September 2018, ESMA updated its benchmarks register.
- 16 July 2019, the EBA updated the ITS package for 2020 benchmarking exercise, on the basis of the responses to the consultation to amend the Regulation on benchmarking of internal models.
- 11 October 2019, the Commission opened a public consultation on a report on the review of the Benchmark Regulation pursuant to Article 54.
- 13 February 2020, ESMA published a table comprising national competent authorities that comply or intend to comply with ESMA’s guidelines on non-significant benchmarks under the Benchmarks Regulation.
- 9 March 2020, ESMA launched a consultation on draft RTS under the Benchmarks Regulation (BMR) covering governance, methodology, infringements reporting, critical benchmarks
- 25 September 2020, ESMA launched a consultation on fees for benchmarks administrators under the BMR.
Level 3
- 20 December 2018, ESMA published guidelines on non-significant benchmarks.
- 19 June 2019, ESMA published the official translations of its guidelines on non-significant benchmarks.
- 11 July 2019, ESMA updated the Q&A on the Benchmarks Regulation.
- 11 December 2019, ESMA issued an update of its Q&A on the Benchmarks Regulation.
- 13 December 2019, ESMA made available information on pending authorisation/registration applications by EU-based administrators under the Benchmarks Regulation.
- 6 February 2020, EIOPA opened a consultation addressing for the first time the subject of the ongoing changes to the new benchmark rates (or IBOR transitions) following the Benchmarks Regulation.
- 13 February 2020, ESMA published a table comprising national competent authorities that comply or intend to comply with ESMA’s guidelines on non-significant benchmarks under the Benchmarks Regulation.
- 9 March 2020, ESMA published a list of competent authorities that comply or intend to comply with its guidelines on non-significant benchmarks.
- 29 April 2020, ESMA published a no action letter to promote coordinated action by national competent authorities (NCAs) regarding the new environmental, social and governance (ESG) disclosure requirements for benchmark administrators under the Benchmarks Regulation.
- 6 November 2020, ESMA published a Q&A on the European Benchmarks Regulation.
- 23 December 2020, ESMA published a consultation on fines and penalties for Benchmark Administrators.
- 1 February 2021, ESMA published a report on its technical advice regarding supervisory fees for benchmarks administrators under the BMR.
