5 May 2016
The European Parliament has now adopted the text of the proposed Regulation on indices used as benchmarks in financial instruments and financial contracts. The new Regulation aims to curb conflicts of interest in setting benchmarks and will impose new requirements on firms that provide, contribute to or use a wide range of interest rate, currency, securities, commodity and other indices. This briefing reviews the next steps in the legislative process and the timing for implementation and comments on significant changes made by the text approved by the Parliament compared to the final compromise text published in December 2015.
European Parliament adopts text of EU benchmarks regulation