In the wake of the alleged manipulation of LIBOR, EURIBOR and TIBOR, the Commission is seeking views on a number of areas. It believes that just changing the sanctioning regimes (as it now proposes as part of the MAD review) may not be enough to improve the way benchmarks are produced and used. It asks for comments on:
- indices and benchmarks: what they are, who produces them and for which purposes;
- the calculation of benchmarks: governance and transparency;
- the purpose and use of benchmarks;
- the provision of benchmarks by private or public bodies; and
- the impact of potential regulation: transition, continuity and international issues.
The consultation is open until 15 November.(Source: Consultation on the Regulation of Benchmarks)