Why You Need to Act Now to Beat the BMR Deadline
The European Union has started to enforce its Benchmarks Regulation (BMR) on January 1, 2018 in order to regulate the provision of, contribution to and use of a wide set of benchmarks. The BMR has been created to:
- Manage conflict of interest inherent to certain investment processes.
- Prevent supervised entities (including asset managers, asset owners and insurance companies) from using unregulated benchmarks in the EU.
- Improve governance and controls over the benchmarks process.
With the date of implementation approaching, let’s take a look at the regulation and what you need to know to become compliant.