in force 2026-01-01 MODIFIED+98 −44§
Amended by Regulation (EU) 2025/914 32025R0914
applies from: unchanged
In paragraph 2, the requirement that supervised entities reflect their contingency plans in their contractual relationship with clients has been replaced with a requirement to reflect them in fallback provisions applicable to financial contracts, financial instruments and investment funds.
Cited: Art. 28, v1 · Art. 28, v2
text before / after
02016R1011-20250117 → 02016R1011-20260101
Article 28
Changes to and cessation of a benchmark
1. An administrator shall publish, together with the benchmark statement referred to in Article 27, a procedure concerning the actions to be taken by the administrator in the event of changes to or the cessation of a benchmark which may be used in the Union in accordance with Article 29(1). The procedure may be drafted, where applicable, for families of benchmarks and shall be updated and published whenever a material change occurs.
2. Supervised entities other than an administrator as referred to in paragraph 1 that use a benchmark shall produce and maintain robust written plans setting out the actions that they would take in the event that a benchmark materially changes or ceases to be provided. Where feasible and appropriate, such plans shall designate one or several alternative benchmarks that could be referenced to substitute the benchmarks that would no longer be provided, indicating the reasons for the suitability of such alternative benchmarks. The supervised entities shall, upon request and without undue delay, provide the relevant competent authority with those plans and any updates and shall reflect them in their contractual relationship with clients. fallback provisions applicable to financial contracts, financial instruments and investment funds.