IOSCO Urges Implementation of Principles for Financial Benchmarks

They provide a solid framework to ensure the quality, integrity, continuity and reliability of Benchmarks and IOSCO developed these Principles in light of investigations and enforcement actions regarding attempted manipulation of major Benchmarks.

The 19 Principles set out a framework of standards for Benchmarks used in financial markets, that Administrators should implement according to the specificities of each Benchmark, including governance, benchmark quality, quality of the methodology and accountability mechanisms.

IOSCO intends to review within an 18-month period from the date of publication of the report (July 17 2013) the extent to which the Principles have been implemented by obtaining the input of Stakeholders, Market Authorities and, as appropriate, Benchmark Administrators.

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