Global body to study Libor, other benchmarks
Wheatley speaks at the Thomson Reuters building in Canary Wharf, London, September 5, 2012. — Reuters picLONDON, Sept 14 — Global securities regulators will study how the interest rate Libor, which was rigged by Barclays, and other market benchmarks should be supervised and run.
The Madrid-based International Organisation of Securities Commissions (IOSCO) said the task force will be headed by Martin Wheatley, managing director of Britain’s Financial Services Authority, and Gary Gensler, chairman of the US Commodity Futures Trading Commission.
It will publish a consultation report by early next year identifying “relevant benchmark-related policy issues and develop policy guidance and principles for benchmark related activities”, IOSCO said in a statement.
Wheatley is due to publish his own recommendations for reform of Libor governance and setting on September 28. — Reuters
