European securities regulators are seeking feedback on measures to implement a planned new regulatory framework for financial benchmarks, such as LIBOR.

The European Securities and Markets Authority (ESMA) published a consultation paper Friday on draft measures to implement new benchmark regulation, which was developed in response to the LIBOR manipulation scandal.

The new framework aims to “improve the governance and control over the benchmark process, thereby ensuring their reliability and protecting users,” ESMA says in a statement.

Among other things, the new framework is designed to: improve the quality of the data and the methodologies used by benchmark administrators; ensure that firms contributing data to benchmarks provide adequate data and are subject to proper controls; and ensure the supervision and viability of critical benchmarks.

The paper seeks feedback on implementation issues such as defining benchmarks; criteria for identifying critical benchmarks; and, transitional provisions. The comment period is open until June 30.