On 5 November 2018, there was published in the Official Journal of the European Union (OJ) the following Regulatory Technical Standards (RTS) under the Benchmarks Regulation (BMR):

  • Commission Delegated Regulation (EU) 2018/1637 regarding RTS for the procedures and characteristics of the oversight function;
  • Commission Delegated Regulation (EU) 2018/1638 regarding RTS specifying how to ensure that input data is appropriate and verifiable, and the internal oversight and verification procedures of a contributor that the administrator of a critical or significant benchmark has to ensure are in place where the input data is contributed from a front office function;
  • Commission Delegated Regulation (EU) 2018/1639 regarding RTS specifying further the elements of the code of conduct to be developed by administrators of benchmarks that are based on input data from contributors;
  • Commission Delegated Regulation (EU) 2018/1640 regarding RTS specifying further the governance and control requirements for supervised contributors;
  • Commission Delegated Regulation (EU) 2018/1641 regarding RTS specifying further the information to be provided by administrators of critical or significant benchmarks on the methodology used to determine the benchmark, the internal review and approval of the methodology and on the procedures for making material changes in the methodology;
  • Commission Delegated Regulation (EU) 2018/1642 regarding RTS specifying further the criteria to be taken into account by competent authorities when assessing whether administrators of significant benchmarks should apply certain requirements;
  • Commission Delegated Regulation (EU) 2018/1643 regarding RTS specifying further the contents of, and cases where updates are required to, the benchmark statement to be published by the administrator of a benchmark;
  • Commission Delegated Regulation (EU) 2018/1644 regarding RTS determining the minimum content of cooperation arrangements with competent authorities of third countries whose legal framework and supervisory practices have been recognised as equivalent;
  • Commission Delegated Regulation (EU) 2018/1645 regarding RTS for the form and content of the application for recognition with the competent authority of the Member State of reference and of the presentation of information in the notification to European Securities and Markets Authority; and
  • Commission Delegated Regulation (EU) 2018/1646 regarding RTS for the information to be provided in an application for authorisation and in an application for registration.

The above Delegated Regulations will enter into force on 25 November 2018, and shall apply from 25 January 2019.