Efforts to replace existing financial benchmarks, follow from a widespread market manipulation scandal
The rules set out standards for both benchmark administrators and contributors
The benchmark administrator has made “very significant progress,” with most of IOSCO’s recommendations, but room for improvement remains
Various RBS traders attempted to manipulate the U.S. dollar version of the global benchmark for interest rate products
The new regulatory framework aims to clarify the behaviours and standards expected of benchmark administrators and contributors
Proposed standards aim to help to restore trust both in benchmarks and financial markets
Although most active managers were in negative territory, they beat the benchmark index’s return
Administrators of equity benchmarks report the highest level of compliance