ESMA_QA_755

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/755

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Regulatory Context

Regulation : BMR

Level 1 Regulation: Benchmarks Regulation (BMR) - Regulation 2016/1011

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Benchmarks Regulation

Subject Matter: Written plans under Article 28(2) (ESMA70-145-114_Q&A 8.2)

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Question

Submission Date: 31 March 2023

When are the written plans robust?

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ESMA Answer

Answer Date: 26-09-2018

ESMA considers that written plans are robust if they determine operational procedures in writing and if they include detailed courses of action, relevant communication channels and arrangements for different scenarios and contingencies. Written plans should be thorough and adequate. They should reflect the nature and size of the individual benchmark and the scale of its use in the markets. ESMA further considers that maintaining the robust written plans requires supervised entities to continuously monitor relevant factors and update arrangements as appropriate.

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This document was automatically extracted from the ESMA EMIR Q&A database.