ESMA works in the field of securities legislation and regulation to improve the functioning of financial markets in Europe, strengthening investor protection and co-operation between national competent authorities. The idea behind ESMA is to establish an “EU-wide financial markets watchdog”. One of its main tasks is to regulate credit rating agencies. In 2010 credit rating agencies were criticized for the lack of transparency in their assessments and for a possible conflict of interest. At the same time, the impact of the assigned ratings became significant for companies and banks but also states.
The Benchmarks Regulation introduces a regime for benchmark administrators that will ensure the accuracy and integrity of benchmarks. ESMA will develop draft regulatory technical standards (RTS) and implementing technical standards (ITS) on a large number of areas, and also provide the Commission with Technical Advice. ESMA will coordinate the supervision of benchmark administrators by national competent authorities. For critical benchmarks, a college of national supervisors including ESMA will be set up and take key decisions
Key Features and Coverage on RIMES
For this data source, RIMES hosts:
- EU Benchmark Administrators
- Third Country Benchmarks
Some of the data items available include:
- BMR Administrator National Competent Authority/Supervising Authority, BMR Status Reason, Country Description, Date of Portfolio, Description, Database Domain Code, Endorsing Entity, ISIN Code, Issuer Description, Last Update Date & Time, LEI Number, Database Source, Database Symbol, etc.