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On 2 July 2014, the House of Commons Treasury Committee published oral evidence given by various regulatory and industry specialists on the manipulation of benchmarks. The evidence was intended to provide an update on the main concerns for the FCA, and also set out upcoming proposals to tackle the manipulation of benchmarks, particularly in light of the regulation of LIBOR in the UK from April 2013.…
We have published an online briefing note concerning 10 things you should know about the European Commission’s draft Regulation on indices used as benchmarks in financial instruments and financial contracts. If implemented the draft Regulation would: apply to indices that are used to reference a financial instrument traded or admitted to trading on a regulated venue in the EU or a financial contract (such as mortgages), or that measure the performance of an investment fund…