In a speech on benchmark regulation and related issues, delivered in Madrid on 29 October, ESMA Chair benchmarks administrators focused on the regulator’s role under BMR, particularly the implementation of third-country regimes. He also touched on ESMA’s participation in the on-going work on IBOR reform, which includes its endeavours with the EU Working Group on euro RFRs with the ECB, EC and the Belgian FSMA. Maijoor said the working group will soon publish an important recommendation concerning fallback provisions in contracts referencing EURIBOR.
In a speech on benchmark regulation and related issues, delivered in Madrid on 29 October, ESMA Chair Steven Maijoor focused on the regulator’s role under BMR, particularly the implementation of third-country regimes. He also touched on ESMA’s participation in the on-going work on IBOR reform, which includes its endeavours with the EU Working Group on euro RFRs with the ECB, EC and the Belgian FSMA. Maijoor said the working group will soon publish an important recommendation concerning fallback provisions in contracts referencing EURIBOR.