Press Release: Commission welcomes European Parliament’s backing for new rules to prevent manipulation of financial benchmarks

On 28 April 2016, the European Commission welcomed the vote by the European Parliament which paved the way for common EU standards against the manipulation of financial benchmarks.

The adoption of the proposed Regulation on financial benchmarks was approved by a large majority in the plenary session and it followed a political agreement by the European Parliament and the European Council in November 2015.

• Primary Source

ESO: Background information: Benchmarks in financial instruments http://www.europeansources.info/record/benchmarks-in-financial-instruments/

European Parliament: Newsroom: Press Release, 28.04.16: Interest rates: final vote to ensure robust and transparent benchmark setting http://www.europarl.europa.eu/news/en/news-room/20160426IPR24757/

ESO: Background information: Manipulation of market benchmarks: Council confirms agreement with EP on tougher rules http://www.europeansources.info/record/press-release-manipulation-of-market-benchmarks-council-confirms-agreement-with-ep-on-tougher-rules/

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