November 9 2013
Comments regarding the European Commission's proposal for a regulation on indices used as benchmarks in financial instruments and financial contracts
The European Commission's legislative proposal is of great importance because indices play a significant role for a multitude of financial instruments and financial contracts. In view of their key economic importance as credence goods and in the light of the disclosed suspected attempts to manipulate key interest rate benchmarks, it is also in the market's interest to establish a uniform supervisory and regulatory framework in the EU as a basis for the future governance of benchmarks.
