Luxembourg IFMs compliance with the Benchmarks Regulation
07 August 2025 _ Regulatory & compliance
In 2020, the CSSF’s “UCI On-site Inspection” department carried out a thematic review in relation to Regulation (EU) 2016/1011 of 8 June 2016 (“Benchmarks Regulation” or “BMR”). The BMR was published in the European Official Journal on 29 June 2016 and has applied since 1 January 2018. It defines a common framework to ensure the accuracy and integrity of the indices used as benchmarks in financial instruments and financial contracts, or to measure the performance of investment funds in the EU.
While the BMR targets three types of market participants (benchmark administrators, contributors, and users), the thematic review focused on the obligations of Luxembourg investment fund managers (“IFMs”)1 as benchmark users.
Further details on the focus areas of the thematic review are described here.
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