Article 2
Criteria at the level of the benchmark or family of benchmarks
Competent authorities may require changes to the compliance statement referred to in Article 26(3) of Regulation (EU) 2016/1011 where they consider that such statement is not clear about why the concerned administrator should not to comply with one or more of the requirements referred to in Article 26(1) of Regulation (EU) 2016/1011, and more particularly where there is a lack of clarity about:
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(a) |
the level of control over the provision of the input data and whether, taking into account the nature of the input data, that level of control is sufficient to ensure the accuracy, integrity and reliability of the input data; |
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(b) |
the transparency of the procedures for consulting on any material change to the non-significant benchmark’s methodology, taking into account the complexity of that methodology and the nature of the input data used; |
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(c) |
the process of reporting instances of manipulation or attempted manipulation of the non-significant benchmark, particularly in relation to the monitoring of input data and contributors; |
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(d) |
where the non-significant benchmark is based on input data from contributors, the code of conduct and whether, taking into account the nature of the input data, it includes safeguards for the integrity of the input data used; |
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(e) |
the capacity of the administrator to review and report on its compliance with the non-significant benchmark’s methodology and with Regulation (EU) 2016/1011; |
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(f) |
where input data is contributed by a supervised contributor, whether that is done with appropriate controls to ensure the accuracy, integrity and reliability of the input data. |