FIA joins industry letter requesting extension to BMR third country regime transitional period

23 November 2020

FIA, working with 13 other trades associations representing all corners of financial markets, has published a paper expressing concern that the EU Benchmarks Regulation third country benchmarks regime transition period should be extended to end-2025. It is currently set to expire at the end of 2021. The European Parliament and EU Council of Ministers are in final negotiations on a revision of BMR, with the Council having supported an extension to end-2025 in its version of the draft text.

The associations believe that this extension is urgently needed to prevent putting EU firms from being placed at a competitive disadvantage in global markets and to allow policy-makers to conduct a comprehensive review of the current third country regime under BMR.

  • FIA
  • Europe