2016R1011 - Summary
REGULATION (EU) 2016/1011 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 (Text with EEA relevance)
Info
🇫🇷 French Version: 2016R1011_FR.0. Open the PDF. Direct link to EUR-LEX.
TITLE I - SUBJECT MATTER, SCOPE AND DEFINITIONS
Article 1 - Subject-matter
Article 2 - Scope
Article 3 - Definitions
TITLE II - BENCHMARK INTEGRITY AND RELIABILITY
CHAPTER 1 - Governance of and control by administrators
Article 4 - Governance and conflict of interest requirements
Article 5 - Oversight function requirements
Article 6 - Control framework requirements
Article 7 - Accountability framework requirements
Article 8 - Record-keeping requirements
Article 9 - Complaints-handling mechanism
Article 10 - Outsourcing
CHAPTER 2 - Input data, methodology and reporting of infringements
Article 11 - Input data
Article 12 - Methodology
Article 13 - Transparency of methodology
Article 14 - Reporting of infringements
CHAPTER 3 - Code of conduct and requirements for contributors
Article 15 - Code of conduct
Article 16 - Governance and control requirements for supervised contributors
TITLE III - REQUIREMENTS FOR DIFFERENT TYPES OF BENCHMARKS
CHAPTER 1 - Regulated-data benchmarks
Article 17 - Regulated-data benchmarks
CHAPTER 2 - Interest rate benchmarks and spot foreign exchange benchmarks
Article 18 - Interest rate benchmarks
Article 18a - Spot foreign exchange benchmarks
CHAPTER 3 - Commodity benchmarks
Article 19 - Commodity benchmarks
CHAPTER 3A - EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks
Article 19a - EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks
Article 19b - Requirements for EU Climate Transition Benchmarks
Article 19c - Exclusions for EU Paris-aligned Benchmarks
Article 19d - Endeavour to provide EU Climate Transition Benchmarks
CHAPTER 4 - Critical benchmarks
Article 20 - Critical benchmarks
Article 21 - Mandatory administration of a critical benchmark
Article 22 - Mitigation of market power of critical benchmark administrators
Article 23 - Mandatory contribution to a critical benchmark
CHAPTER 4A - Statutory replacement of a benchmark
Article 23a - Scope of the statutory replacement of a benchmark
Article 23b - Replacement of a benchmark by Union law
Article 23c - Replacement of a benchmark by national law
CHAPTER 5 - Significant benchmarks
Article 24 - Significant benchmarks
Article 25 - Exemptions from specific requirements for significant benchmarks
CHAPTER 6 - Non-significant benchmarks
Article 26 - Non-significant benchmarks
TITLE IV - TRANSPARENCY AND CONSUMER PROTECTION
Article 27 - Benchmark statement
Article 28 - Changes to and cessation of a benchmark
Article 28a - Accessibility of information on the European single access point
TITLE V - USE OF BENCHMARKS IN THE UNION
Article 29 - Use of a benchmark
Article 30 - Equivalence
Article 31 - Withdrawal of registration of an administrator located in a third country
Article 32 - Recognition of an administrator located in a third country
Article 33 - Endorsement of benchmarks provided in a third country
TITLE VI - AUTHORISATION, REGISTRATION AND SUPERVISION OF ADMINISTRATORS
CHAPTER 1 - Authorisation and registration
Article 34 - Authorisation and registration of an administrator
Article 35 - Withdrawal or suspension of authorisation or registration
Article 36 - Register of administrators and benchmarks
CHAPTER 2 - Supervisory cooperation
Article 37 - Delegation of tasks between competent authorities
Article 38 - Disclosure of information from another Member State
Article 39 - Cooperation on on-site inspections and investigations
CHAPTER 3 - Role of competent authorities
Article 40 - Competent authorities
Article 41 - Powers of competent authorities
Article 42 - Administrative sanctions and other administrative measures
Article 43 - Exercise of supervisory powers and imposition of sanctions
Article 44 - Obligation to cooperate
Article 45 - Publication of decisions
Article 46 - Colleges
Article 47 - Cooperation with ESMA
Article 48 - Professional secrecy
CHAPTER 4 - ESMA powers and competences
Section 1 - Competences and procedures
Article 48a - Exercise of the powers by ESMA
Article 48b - Request for information
Article 48c - General investigations
Article 48d - On-site inspections
Section 2 - Administrative sanctions and other administrative measures
Article 48e - Supervisory measures by ESMA
Article 48f - Fines
Article 48g - Periodic penalty payments
Article 48h - Disclosure, nature, enforcement and allocation of fines and periodic penalty payments
Section 3 - Procedures and review
Article 48i - Procedural rules for taking supervisory measures and imposing fines
Article 48j - Hearing of the persons subject to investigations
Article 48k - Review by the Court of Justice
Section 4 - Fees and delegation
Article 48l - Supervisory fees
Article 48m - Delegation of tasks by ESMA to competent authorities
Article 48n - Transition measures related to ESMA
TITLE VII - DELEGATED AND IMPLEMENTING ACTS
Article 49 - Exercise of the delegation
Article 50 - Committee procedure
TITLE VIII - TRANSITIONAL AND FINAL PROVISIONS
Article 51 - Transitional provisions
Article 52 - Deadline for updating the prospectuses and key information documents
Article 53 - ESMA reviews
Article 54 - Review
Article 55 - Notification of benchmarks referenced and their administrators
Article 56 - Amendments to Regulation (EU) No 596/2014
Article 57 - Amendments to Directive 2008/48/EC
Article 58 - Amendments to Directive 2014/17/EU
Article 59 - Entry into force
Annex I - INTEREST RATE BENCHMARKS
Annex II - COMMODITY BENCHMARKS
Annex III - EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks