The European Commission has published a consultation paper on the regulation of indices, which follows the recent alleged manipulation of LIBOR, and the European and Japanese equivalents.
The paper covers five areas including: who produces indices and what are they used for; governance and transparency in the calculation of benchmarks; the purpose and use of benchmarks; the provision of benchmarks by private and public bodies; and what the impact might be on the regulation of benchmarks.
Although only 29 pages in length, the consultation paper manages to pack in 46 questions which are summarised on pages 26 to 29 inclusive.
Comments are invited by 15 November 2012.
