The Benchmarks Regulation has the following objectives:
- improving governance and controls over the benchmark process, in particular to ensure that administrators avoid conflicts of interest, or at least manage them adequately
- improving the quality of input data and methodologies used by benchmark administrators
- ensuring that contributors to benchmarks and the data they provide are subject to adequate controls, in particular to avoid conflicts of interest
- protecting consumers and investors through greater transparency and adequate rights of redress.
The Benchmarks Regulation will introduce among others requirements with respect to:
- the governance of and control by administrators over the benchmark process
- ensuring that administrators avoid conflicts of interest and have policies and procedures how to manage them adequately
- the input data used for determining a benchmark
- the methodology used for determining a benchmark
- the code of conduct that an administrator shall have in place for its contributors.
EU entity benchmarks administrators are required to apply for authorization or registration. In order to receive an application form, please contact the AFM via email@example.com.