Commission Delegated Regulation (EU) 2022/805 of 16 February 2022 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council by specifying fees applicable to the supervision by the European Securities Markets Authority of certain benchmark administrators (Text with EEA relevance)

Article 1

Subject matter and scope

This Regulation lays down rules on fees that ESMA can charge to benchmark administrators in relation to registration, authorisation, recognition, endorsement and supervision.

Article 2

Definitions

For the purposes of this Regulation, the following definitions apply:

(1) ‘critical benchmark’ means a critical benchmark pursuant to article 20(1), points (a) and (c), of Regulation (EU) 2016/1011;

(2) ‘third country benchmark’ means a benchmark whose administrator is located outside the Union.

Article 2a

Recovery of supervisory costs in full

The fees charged to benchmark administrators shall cover:

(a) all direct and indirect costs relating to the supervision of benchmark administrators by ESMA in accordance with Regulation (EU) 2016/1011, including costs resulting from the recognition, endorsement, registration, authorisation or extension of authorisation;

(b) all costs for the reimbursement of direct and indirect costs of competent authorities to which ESMA has delegated tasks in accordance with Regulation (EU) 2016/1011.

Article 3

Application fees

Article 4

Annual supervisory fees

The administrator of one or more critical benchmarks shall pay an annual supervisory fee:

(a) of EUR 300 000 , in cases where ESMA chairs a college of supervisors pursuant to Article 46 of Regulation (EU) 2016/1011;

(b) of EUR 250 000 , in cases where ESMA does not chair a college of supervisors pursuant to Article 46 of Regulation (EU) 2016/1011.

A benchmark administrator established in a third country recognised by ESMA or an administrator endorsing third-country benchmarks supervised by ESMA that provides or endorses, on 30 September of year (n-1), at least one benchmark that is significant pursuant to Article 24 of Regulation (EU) 2016/1011 shall pay the following annual supervisory fee:

(a) for the year of registration, authorisation or recognition and the two years thereafter, EUR 150 000 ;

(b) as from the third year after the year of registration, authorisation or recognition, the annual supervisory fee for a given year (n) shall be the total annual fee for recognised third-country administrators and administrators endorsing third-country benchmarks that provide or endorse, on 30 September of year (n–1), at least one benchmark that is significant pursuant to Article 24 of Regulation (EU) 2016/1011, adjusted by the turnover coefficient;

(c) for the purpose of point (b), the total annual fee for recognised third-country administrators and administrators endorsing third-country benchmarks that provide or endorse, on 30 September of year (n–1), at least one benchmark that is significant pursuant to Article 24 of Regulation (EU) 2016/1011 for a given year (n) shall be equal to the ESMA supervisory budget allocated for the performance of the tasks granted under Regulation (EU) 2016/1011 for that year (n) minus the annual supervisory fees to be paid to ESMA by critical benchmark administrators for year (n) and the annual fees for year (n) to be paid to ESMA by administrators paying a fixed fee in accordance with paragraph 3;

(d) for the purpose of point (b), for each recognised third-country administrator and each administrator endorsing third-country benchmarks that provides or endorses, on 30 September of year (n–1), at least one benchmark that is significant pursuant to Article 24 of Regulation (EU) 2016/1011, the turnover coefficient shall be the share of its applicable turnover in the aggregate applicable turnover generated by all recognised third-country administrators and all administrators endorsing third-country benchmarks that provide or endorse, on 30 September of year (n–1), at least one benchmark that is significant pursuant to Article 24 of Regulation (EU) 2016/1011;

(e) the minimum annual supervisory fee for recognised third-country administrators and benchmark administrators endorsing third-country benchmarks, where such administrators provide or endorse, on 30 September of year (n–1), at least one benchmark that is significant pursuant to Article 24 of Regulation (EU) 2016/1011, shall be EUR 40 000 , including when the applicable turnover of the recognised third-country administrator or the administrator endorsing third-country benchmarks is equal to zero.

Article 5

Annual supervisory fees in year of recognition, endorsement or authorisation

By way of derogation from Article 4, the annual supervisory fee in the first year for recognised third-country administrators, administrators endorsing third-country benchmarks, and for authorised critical benchmark administrators, with reference to the year in which they have been recognised or authorised, or third-country benchmarks were first endorsed, shall be calculated by applying to the fee specified in Article 4 the following coefficient:

The supervisory fee of the first year shall be paid after ESMA has notified the benchmark administrator that its application has been successful and within 30 days from the date of issuance of ESMA’s debit note.

By way of derogation from the first subparagraph, where a benchmark administrator is recognised, authorised, or starts endorsing third-country benchmarks during the month of December, it shall not pay a first-year supervisory fee.

Article 6

Applicable turnover

Article 7

General payment modalities

Article 10

Reimbursement of national competent authorities

ESMA shall reimburse a national competent authority for the actual costs incurred as a result of work carried pursuant to Regulation (EU) 2016/1011, with an amount which fulfils the following conditions:

(a) the amount is agreed by ESMA and the competent authority before the delegation of tasks takes place;

(b) the amount is lower than the total amount of supervisory fees paid to ESMA by the relevant administrators of benchmarks.

Article 11

Transitional provisions

By derogation from Article 6, such administrator shall not be required to submit revenue figures in 2025 and 2026.

Article 12

Entry into force and date of application

This Regulation shall enter into force and apply on the third day following that of its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States.