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Preamble
Recitals 72
Title I - SUBJECT MATTER, SCOPE AND DEFINITIONS (Article 1-3) 3
Title II - BENCHMARK INTEGRITY AND RELIABILITY (Article 4-16) 13
Title III - REQUIREMENTS FOR DIFFERENT TYPES OF BENCHMARKS (Article 17-25) 18
Title IV - TRANSPARENCY AND CONSUMER PROTECTION (Article 27-28a) 3
Title V - USE OF BENCHMARKS IN THE UNION (Article 29-33) 5
Title VI - AUTHORISATION, REGISTRATION AND SUPERVISION OF ADMINISTRATORS (Article 34-48n) 29
- Chapter 1 - Authorisation and registration (Article 34-36) 3
- Chapter 2 - Supervisory cooperation (Article 37-39) 3
- Chapter 3 - Role of competent authorities (Article 40-48) 9
- Chapter 4 - ESMA powers and competences (Article 48a-48n) 14
  - Section 1 - Competences and procedures (Article 48a-48d) 4
    
    Article 48a - Exercise of the powers by ESMA
    
    Article 48b - Request for information
    
    Article 48c - General investigations
    
    Article 48d - On-site inspections
  - Section 2 - Administrative sanctions and other administrative measures (Article 48e-48h) 4
  - Section 3 - Procedures and review (Article 48i-48k) 3
  - Section 4 - Fees and delegation (Article 48l-48n) 3
Title VII - DELEGATED AND IMPLEMENTING ACTS (Article 49-50) 2
Title VIII - TRANSITIONAL AND FINAL PROVISIONS (Article 51-59) 9
Annexes 3
Amending acts 6

Article 48a - Exercise of the powers by ESMA

Article 48a

Exercise of the powers by ESMA

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The powers conferred on ESMA, on any official of ESMA or on any other person authorised by ESMA by Articles 48b to 48d shall not be used to require the disclosure of information or documents that are subject to legal privilege.

Official text · consolidated version 01/01/2026 (in force) Open full page ↗