Background - The integrity of benchmarks used in financial transactions has been the subject of increasing focus from regulators since the investigations into manipulation of the setting of LIBOR, EURIBOR and other...more
The individuals and entities responsible for setting financial market reference rates or, more broadly, financial benchmarks, have not historically been subject to extensive regulation. Recent misconduct by banks with regard...more
Background - As we have previously reported, a Task Force of the International Organization of Securities Commissions (“IOSCO”) published a consultation on financial benchmarks on 11 January 2013 in response, in part,...more