Published in the Official Journal of European Union of 24 May 2022 the Commission Delegated Regulation (EU) 2022/804 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council by specifying rules of procedure for measures applicable to the supervision by the European Securities Markets Authority of certain benchmark administrators.
A number of provisions are included that recognise ESMA’s power to impose administrative fines or penalties for repeated non-compliance.
In addition, the Regulation regulates:
  • the rights of defence;
  • the modalities for collecting sanctions;
  • the modalities for challenging breaches of European discipline by benchmark administrators or for repeated breaches;
  • the limitation period.
In accordance with Regulation (EU) 2021/168 third country benchmarks can be used in the Union without the need for the relevant administrators to seek equivalence, recognition or endorsement in a transitional period extended until 2023.
During this transitional period, recognition in the Union is an opt-in regime for benchmark administrators located in third countries, which indicates that their benchmarks will remain available for use in the Union after the transitional period ends.
As a consequence, during such period, provisions on recognition and supervisory fees should apply only to administrators located in third countries which have voluntarily applied for recognition before the expiry of the transitional period introduced by Regulation (EU) 2021/168 and where the relevant national competent authority or ESMA has granted recognition.
Published in the Official Journal of European Union of 24 May 2022 the Commission Delegated Regulation (EU) 2022/805 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council by specifying fees applicable to the supervision by the European Securities Markets Authority of certain benchmark administrators.
In particular, it regulates the fees that ESMA charges benchmark administrators:
  • in relation to applications for authorisation
  • in relation to applications for recognition;
  • for its supervisory activities.
These fees are based on the benchmark administrator’s turnover.
EBA has published an  updated mapping between quantitative disclosure data points and the relevant supervisory reporting data points.
The mapping is part of the EBA’s overall objective to make the reporting and disclosure process more efficient and less costly for banks and aims at facilitating institutions’ compliance with disclosure requirements and improving the consistency and quality of the information disclosed.
The updated mapping applies to the reporting framework 3.0 and the Implementing Technical Standards (ITS) on institutions’ Pillar 3 public disclosures.