in force 2022-01-01 MODIFIED+501 −0§
Amended by Regulation (EU) 2019/2175 32019R2175
applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)
dates added to the text: 2020-10-01
The after text adds a new paragraph 9, which is not present in the before text, directing ESMA to develop draft regulatory technical standards specifying requirements to ensure that the governance arrangements referred to in paragraph 1 are sufficiently robust.
This new paragraph 9 also states that ESMA shall submit those draft regulatory technical standards to the Commission by 1 October 2020, and that power is delegated to the Commission to adopt them in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.
All other paragraphs of Article 4 remain textually identical between the two versions.
Cited: Art. 4, v2 · Art. 4, v1
text before / after
02016R1011-20210213 → 02016R1011-20220101
Article 4 Governance and conflict of interest requirements 1. An administrator shall have in place robust governance arrangements which include a clear organisational structure with well-defined, transparent and consistent roles and responsibilities for all persons involved in the provision of a benchmark. Administrators … 574 unchanged words … information may affect the benchmark. 8. An administrator shall establish specific internal control procedures to ensure the integrity and reliability of the employee or person determining the benchmark, including at least internal sign-off by management before the dissemination of the benchmark.9. ESMA shall develop draft regulatory technical standards to specify the requirements to ensure that the governance arrangements referred to in paragraph 1 are sufficiently robust. ESMA shall submit those draft regulatory technical standards to the Commission by 1 October 2020. Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.