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🔗 Back to Summary. 🇫🇷 French Version: 2018R1642_FR.4. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 3 – Level of conflicts of interest ⬅️ | ➡️ Article 5 – Impact of the benchmark on markets
Article 4 - Degree of discretion of the administrator
The further criteria to be considered by the competent authority under 2016 in taking into account the degree of discretion of the administrator shall include at least the following:
(a)
in cases where the benchmark methodology allows for expert judgement by the administrator, whether the use of judgement or exercise of discretion is sufficiently transparent;
(b)
in cases where the benchmark is based on estimates, the effectiveness of the internal control measures that the administrator has in place.