IOSCO is consulting on a set of principles for benchmarks used in global financial markets. It has also identified a need for a subset of principles to address benchmarks that have specific risks because of their reliance on submissions or ownership structure. The 18 proposed principles cover:

  • governance;
  • quality of the benchmark;
  • quality of the methodology; and
  • accountability.

The Board-level task force is chaired by Martin Wheatley and the US Commodity Trading and Futures Commission’s Gary Gensler. Consultation closes on 16 May. (Source: IOSCO Consults on Benchmark Principles)