On 30 October 2013, the International Organization of Securities Commissions (IOSCO) published a communique on the implementation of its principles for financial benchmarks.Financial benchmark administrators are expected to take all the necessary measures to comply with the principles by July 2014. While the principles set out uniform expectations, IOSCO does not expect a one-size-fits-all method of implementation. Rather, the principles provide a framework of standards that might be met in different ways depending on the specificities of each benchmark. In the communique, IOSCO also reminds benchmark administrators that they must publicly disclose their compliance with the principles within 12 months of the publication of IOSCO's report. IOSCO published its final report on principles for financial benchmarks in July 2013. These were subsequently endorsed by the Financial Stability Board (FSB) and also by the G20 in September 2013.
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