The Commission acts to address the risk of benchmark manipulation

The LIBOR and Euribor scandals showed that without appropriate governance and controls, banks may succumb to the temptation of manipulating interest rate benchmarks. To avoid this happening again, the Commission is proposing a Regulation on benchmarks such as those for interest rates, price assessments for raw materials, foreign exchange rates and benchmarks used for setting the prices of gold and silver.

• Primary Source

http://ec.europa.eu/internal_market/smn/index_en.htm http://ec.europa.eu/internal_market/smn/index_en.htm

ESO: Background information: EU promises change to scandal-tainted bank lending rate http://www.europeansources.info/record/eu-promises-change-to-scandal-tainted-bank-lending-rate/

European Commission: DG Internal Market and Services: Securities: Market abuse http://ec.europa.eu/internal_market/securities/abuse/

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