The Council of the EU has published the 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 European Parliament has already adopted the draft Regulation. The next step is for it to be formally adopted by the Council of the EU which is expected to happen at the Permanent Representatives Committee meeting on 11 May 2016.
The draft Regulation will then be published in the Official Journal of the EU and enter into force on the day after its publication. It applies 18 months after its entry into force.