Financial benchmark regulation in the EU

Presented by

Peter Green and Jeremy Jennings Mares, Morrison & Foerster; Shabana Qaiser, Bank of America Merrill Lynch

About this talk

This webinar will focus on the current and future state of regulation of financial benchmarks used in the EU, both EU and non-EU benchmarks. The EU’s Benchmarks Regulation imposes a range of stringent requirements aimed at ensuring the integrity and reliability of benchmarks used in a vast number of financial transactions. Although the provisions of the Regulation are already in force, transitional provisions mean that many index providers will only be required to comply with the Regulation from 1 January 2020 or, in the case of critical benchmarks and non-EU benchmarks, 1 January 2022. After these dates, EU banks, fund managers and other financial institutions will be unable to use financial benchmarks in a huge range of funds, securities, derivatives and other financial instruments, unless they comply with the provisions of the Regulation. In particular, this webinar will discuss what financial markets participants need to know about: •Which persons/entities are affected by the Regulation •When an index or benchmark will fall within the scope of the Regulation, in particular its restrictions on benchmark use for certain transactions •Specific rules that affect certain benchmarks, such as critical benchmarks and commodity benchmarks •The timing for compliance with the Regulation •The specific provisions concerning the use of benchmarks from non-EU providers

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