On 30 October 2017, the CSSF published a press release in
relation to Regulation (EU) 2016/1011 on indices used as benchmarks
(Benchmarks Regulation or Regulation or BMR) [see
previous article for more details]. The CSSF recalls that the
Benchmarks Regulation will be applicable as from 1 January
2018.
The Regulation aims at 3 types of actors of the market,
including:
- Benchmark administrators;
- Contributors providing input data in
order to establish benchmarks; and
- Supervised entities using the
benchmarks as part of financial instruments or financial contracts,
or to measure the performance of investment funds.
Supervised entities
The CSSF would like to particularly draw the attention of
supervised entities to the use of benchmarks.
According to article 29 of the Regulation, a supervised entity may
use a benchmark or a combination of benchmarks in the Union if the
benchmark is provided by an administrator located in the Union and
included in the
