04/03/2024 (Agence Europe) – On Monday 4 March, MEPs on the European Parliament’s Committee on Economic and Monetary Affairs (ECON) voted with 45 votes in favour and 2 abstentions for the draft report by Jonás Fernández (S&D, Spanish) on benchmarks in the financial sector. The ECON Committee wishes to protect the EU’s financial stability while reducing the administrative and regulatory burden for smaller benchmark providers. “More transparency and a better supervision. The Benchmark Regulation proposal that we have adopted today [...] represents a substantial improvement of the regulatory framework governing the use of these instruments, by completely excluding non-significant benchmarks from the application of this Regulation and by simplifying the approach to third country benchmarks in the EU”, commented Mr Fernández on the sidelines of the vote. (BD)