EC adopts Delegated Regulation amending RTS under Benchmark Regulation

The European Commission has adopted a Delegated Regulation amending the regulatory technical standards (RTS) under Delegated Regulations (EU) 2018/1645 and 2018/1646, pursuant to the Benchmark Regulation (EU) 2016/1011. These amendments update the form and content of applications for recognition, authorisation and registration of benchmark administrators, reflecting changes introduced by the BMR recognition regime under Regulation (EU) 2019/2175 as well as further reforms under Regulation (EU) 2025/914 aimed at reducing the regulatory burden on administrators of smaller benchmarks. The amendments to both RTS are consolidated in a single amending Delegated Regulation.

Key revisions include enhanced disclosure requirements relating to organisational structure, employees and governance integrity, including self-declarations for management and oversight personnel. Additional provisions address operational separation of the applicant's business, record-keeping and complaint handling mechanisms. Applications must now be submitted electronically and either in the official language of the Member State where the legal representative is established or in a language customary in the sphere of international finance. Personal data retention by national competent authorities and the European Securities and Markets Authority is limited to five years after the individual has ceased to perform its function. The Regulation shall enter into force on the twentieth day following its publication in the Official Journal of the European Union.

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