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The consultation focuses primarily on a number of topics the Benchmark Regulation itself puts forward for review, such as the regime for critical benchmarks and the effectiveness of the mechanism for authorisation and registration of EU benchmark administrators. At the same time, a couple of broader topics are explored, such as the categorisation of benchmarks and the rules for third country benchmarks.
On the basis of the responses received, the European Commission will prepare a report to the European Parliament and Council.
In terms of next steps, the Commission will hold a public conference on 12 November 2019 to discuss the impact and challenges of implementing the final Basel III reforms in the EU. The deadline to submit comments to the ongoing consultation is 03 January 2020.