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Ordinary legislative procedure Second reading

Amending Regulation (EU) 2016/1011 as regards the scope of the rules for benchmarks, the use in the Union of benchmarks provided by an administrator located in a third country, and certain reporting requirements

A proposed EU law. Parliament and the Council must agree on the same text: Parliament adopts its position, then negotiates with the Council.

Where it stands: Completed: published in the Official Journal on 19 May 2025 and now EU law.

  1. ✓ Referred to committee 3 April 2025
  2. ✓ Committee work Report adopted 8 April 2025
  3. ✓ Tabled for plenary 10 April 2025
  4. ✓ Plenary vote Voted 6 May 2025
  5. ✓ Negotiations with the Council Deal approved in committee 16 January 2025
  6. ✓ Published as law 19 May 2025
How a file moves through Parliament

A file is referred to one lead committee (others may give an opinion). Its rapporteur writes a draft report, committee members table amendments, and the committee votes to adopt the report. The report is then tabled for all MEPs; political groups can table further amendments, which are voted on before the final vote in plenary. For a law, Parliament’s adopted text is its first-reading position; Parliament and the Council then negotiate a common text (trilogues) which both must approve before it is published as law.

Who is working on it

Lead committee
ECON — Economic and Monetary Affairs
Rapporteur
Jonás FERNÁNDEZ S&D
Shadow rapporteurs
Antonio LÓPEZ-ISTÚRIZ WHITE PPEInese VAIDERE PPEAuke ZIJLSTRA PfEKristoffer STORM ECRMEP #204733 ECRGilles BOYER RenewMEP #96648 Verts/ALEVladimir PREBILIČ Verts/ALEMEP #28586 The LeftJussi SARAMO The Left
For opinion
IMCO — Internal Market and Consumer Protection ITRE — Industry, Research and Energy ENVI — Environment, Climate and Food Safety JURI — Legal Affairs

The rapporteur drafts and negotiates the text for the lead committee; each other political group names a shadow rapporteur to follow the file.

The text, version by version

Adopted by Parliament · latest Adopted text TA10-0071/2025 6 May 2025 ✦ Parliament approves the Council position on a regulation amending the rules for benchmarks, including the use of benchmarks from third-country administrators and reporting requirements.⇄ what changed Adopted by Parliament Adopted text TA9-0357/2024 24 April 2024 ✦ Parliament's amended version of the proposed regulation amends the EU benchmarks regulation to focus rules on critical and significant benchmarks, EU Climate Transition and Paris-aligned Benchmarks, and certain commodity benchmarks, reducing burdens on smaller benchmarks.⇄ what changed Tabled for plenary Report A10-0060/2025 10 April 2025 ✦ Parliament approves the Council position at first reading on a regulation amending the EU benchmarks regulation, covering scope, third-country benchmarks, and reporting requirements.⇄ what changed Tabled for plenary Report A9-0076/2024 7 March 2024 ✦ Parliament's amended version of the proposed regulation narrows the scope of benchmark rules to critical, significant, EU Climate Transition and EU Paris-aligned benchmarks, and commodity benchmarks under Annex II. It sets procedures for designating significant benchmarks, requires administrators to seek authorisation or registration, and restricts use of non-compliant benchmarks.⇄ what changed Committee draft Draft report (ECON) 3 April 2025 ✦ The draft report recommends approving the Council position at first reading on a regulation amending the Benchmarks Regulation, which adjusts rules on benchmarks' scope, third-country administrators, and reporting requirements.⇄ what changed Committee draft Draft report (ECON) 11 January 2024 ✦ This draft report sets out Parliament's amendments to the Commission proposal amending the Benchmarks Regulation, narrowing its scope to critical, significant, EU Climate Transition, EU Paris-aligned, ESG and certain commodity benchmarks, and shifting supervisory powers to ESMA.

Newest version first. Open a version to read it in full. “What changed” shows the differences paragraph by paragraph; ✦ lines are AI-written from the texts themselves.

Timeline

  1. Outcome
  2. 19 May 2025 Published in the Official Journal

    The act is now EU law.

  3. 7 May 2025 Signed by the Presidents of Parliament and the Council

    The last step before the act is published in the Official Journal.

  4. Plenary stage
  5. 6 May 2025 Plenary vote
    Sitting of 6 May 2025 📄 Adopted text TA10-0071/2025📄 Report A10-0060/2025
  6. 10 April 2025 Report tabled for plenary

    This is the text all MEPs vote on. Political groups can still table amendments to it.

    📄 Report A10-0060/2025
  7. Committee stage
  8. 8 April 2025 Committee vote: report adopted

    ECON (Economic and Monetary Affairs) voted on the amendments and adopted the report that goes to plenary.

  9. 3 April 2025 Draft report published

    The rapporteur’s first text in ECON (Economic and Monetary Affairs). Members can table amendments before the committee votes.

    📄 Draft report (ECON)
  10. 3 April 2025 Referred to the ECON (Economic and Monetary Affairs) committee

    The lead committee prepares the report; IMCO (Internal Market and Consumer Protection), ITRE (Industry, Research and Energy), ENVI (Environment, Climate and Food Safety), JURI (Legal Affairs) give an opinion.

  11. Negotiations with the Council
  12. 16 January 2025 Committee approved the deal reached with the Council

    The provisional agreement from the trilogues goes to the whole Parliament for a vote.

    📄 ECON-AG-767863
  13. Plenary stage
  14. 24 April 2024 Plenary vote
    Sitting of 24 April 2024 📄 Adopted text TA9-0357/2024📄 Report A9-0076/2024
    Adopted Adopted by an overwhelming majority
    For 530 Against 36 Abstained 14

    Final vote at 18:43 · 91% of votes cast in favour · every MEP’s position →

  15. 7 March 2024 Report tabled for plenary

    This is the text all MEPs vote on. Political groups can still table amendments to it.

    📄 Report A9-0076/2024
  16. Committee stage
  17. 4 March 2024 Committee vote: report adopted

    ECON (Economic and Monetary Affairs) voted on the amendments and adopted the report that goes to plenary.

  18. 1 February 2024 Amendments tabled in committee

    Members of ECON (Economic and Monetary Affairs) proposed changes to the draft.

    📄 Amendments in committee (ECON)
  19. 11 January 2024 Draft report published

    The rapporteur’s first text in ECON (Economic and Monetary Affairs). Members can table amendments before the committee votes.

    📄 Draft report (ECON)
  20. 11 December 2023 Referred to the ECON (Economic and Monetary Affairs) committee

    The lead committee prepares the report; IMCO (Internal Market and Consumer Protection), ITRE (Industry, Research and Energy), ENVI (Environment, Climate and Food Safety), JURI (Legal Affairs) give an opinion.