The EU Benchmark Regulation: Users be cautious
The EU Benchmark Regulation (BMR) came into effect on 1 January 2018, but many benchmark users have not fully assimilated the impact of the BMR on their business. MiFID II may have been a distraction for some users, while others may have mistakenly assumed they had until 31 December 2019 to comply with this new regulation. In addition, other firms may have concluded that they would not be impacted by the BMR, simply because they are not benchmark administrators1. Users should not be complacent; unlike the IOSCO Principles for Financial Benchmarks, the BMR also impacts benchmark users.
1. If you are a benchmark administrator, you may want to read our previous Deloitte blogpost on the BMR: EU Benchmark Regulation: Are you ready for implementation?
Performance magazine issue 27, September 2018
Performance is a triannual digest, dedicated to investment management professionals, which brings you the latest articles, news and market developments from Deloitte’s professionals and clients.