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Recital 4

Recital 4

(4)Article 4, paragraph 7 of Regulation (EU) 2016/1011 requires that benchmark administrators ensure that their employees and any other natural persons whose services are placed at their disposal or under their control and who are directly involved in the provision of a benchmark have the necessary skills, knowledge and experience for the duties assigned to them and are subject to effective management and supervision. To ensure that the applicant benchmark administrator has established, at the time of authorisation or registration, all the necessary arrangements to meet the requirements laid down in Article 4, paragraph 7 of Regulation (EU) 2016/1011 and to assess the skills, knowledge and experience of the relevant employees of the administrator, it is appropriate to require the submission of the curriculum vitae for the members of the management body, the employees responsible for the oversight function and for the functions within the control framework and the internal function. The curriculum vitae should have regard to up-to-date information on the employment history and functions occupied of the relevant employees in order to allow an assessment of the overall composition and diversity of the management body and their collective skills, professional qualifications and experience, as relevant to the activities of the benchmark administrator and the risks to which it is exposed.

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