On 20 May 2022, the European Commission issued a targeted consultation seeking views on further potential improvements in the functioning of the Benchmarks Regulation (BMR), specifically as regards the rules applicable to non-EEA benchmarks and the impact on market participants of the full entry into application of the third country regime as of 1 January 2024.

The Commission also provides a reminder that other aspects of the BMR are subject to ongoing reflection, notably in the area of sustainability. This includes a study currently being carried out by an external contractor on the feasibility, minimum standards and transparency requirements of an EU ESG benchmark, on which the Commission will provide a follow-up after its delivery at end-2022.

The deadline for responding to the consultation is 12 August 2022.