Leveling the Playing Field: Recent Developments in Benchmarks Regulation

December 19, 2013

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 to the setting of interest rate benchmarks – along with the growing theme of greater oversight of the financial industry – has prompted regulators either to put in place regulation of interest rate benchmarks or to create the foundations for new regulation.

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