1 00118601 Emerging themes 2019 A4 AW v31 combined - Page 54



MARKETS
THE RIGHT MEASURES
MINIMISING BUSINESS
DISRUPTION FROM BMR
The Benchmarks Regulation (BMR) – or to give
it its long name, the Regulation on indices
used as benchmarks in financial instruments
and financial contracts or to measure the
performance of investment funds ((EU)
2016/1011) – aims to ensure the accuracy,
robustness and integrity of benchmarks and
of the benchmark determination process.
The majority of the BMR’s provisions applied
from 1 January 2018, but important transitional
provisions do not take effect until 1 January
2020. So with that date now less than a year
away – and all benchmarks used in the EU
and their administrators then required to fully
comply with the BMR – what does this mean
for benchmark users and what should be
done this year to prepare?
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