On 3 May 2016, we blogged that the Council of the EU had published the agreed text of the draft Regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (the Benchmarks Regulation).
Following the publication of the agreed text, the next step was for the Council to formally adopt the Benchmarks Regulation. The Council has now done so.
The Benchmarks Regulation will enter into force on the day after its publication in the Official Journal of the EU and will apply 18 months after it enters into force.
View Council of EU adopts Benchmark Regulation,17 May 2016