On 28 May 2026, the Financial Conduct Authority (FCA) updated its webpage which sets out its findings from a review of how benchmark administrators manage data risks.
The FCA completed a multi-firm project looking at the quality of calculation controls in the benchmarks sector and this is reported on in chapter 5 of
On 30 April 2026, the European Securities and Markets Authority (ESMA) issued a public statement on transitional provisions under the Benchmarks Regulation (BMR) review.
The public statement sets out a BMR review timeline and then a table which includes information in relation to the applications for recognition and endorsement by third
On 27 April 2026, there was published in the Official Journal of the EU (OJ), Commission Implementing Regulation (EU) 2026/905 of 24 April 2026 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council by establishing a list of spot foreign exchange benchmarks exempt from its application. The Implementing Regulation enters
On 11 February 2026, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2026/323 of 29 October 2025 amending Delegated Regulation (EU) 2022/805 as regards fees for the supervision by the European Securities and Markets Authority (ESMA) of benchmark administrators endorsing third-country benchmarks. The Commission
On 4 February 2026, the European Commission issued for consultation a draft Implementing Regulation supplementing the Benchmarks Regulation (BMR) by establishing a list of spot foreign exchange benchmarks exempt from its application.
The spot foreign exchange rate benchmarks listed in the Annex to the draft Implementing Regulation are designated as spot foreign exchange
On 22 December 2025, the European Securities and Markets Authority (ESMA) issued a final report on guidelines on internal controls for benchmark administrators (BAs), credit rating agencies (CRAs) and market transparency infrastructures. The final report follows an earlier consultation paper that ESMA issued on 19 December 2024.
In the
On 17 December 2025, the European Securities and Markets Authority and the New Zealand Financial Markets Authority entered into a Memorandum of Understanding establishing cooperation arrangements under Article 30 of the Benchmarks Regulation.
On 17 December 2025, HM Treasury (HMT) issued a consultation paper on the future regulatory regime for benchmarks and benchmark administrators.
In the consultation paper HMT is consulting on the proposal to introduce an entirely new benchmarks regime, which only regulates those benchmarks or benchmark administrators that may pose systemic risks to UK
On 31 October 2025, there was published in the Official Journal of the European Union (OJ) Commission Implementing Decision (EU) 2025/2197 which provides that for the purposes of Article 30(2) of the Benchmarks Regulation (BMR), New Zealand’s legal and supervisory framework applicable to financial benchmarks whose administrator has been licensed by