Benchmark Reform Far From Over, EU Watchdog Warns

Law360, London (October 30, 2019, 3:51 PM GMT) -- Tough new regulations governing interest rate benchmarks are working but the sector should expect further reform in future, a top European markets watchdog has said.

European Union regulators have been successful in reforming interest rate regulations in the wake of widespread manipulation scandals in the late 2000s, Steven Maijoor, chair of the European Securities and Markets Authority, said in a speech Tuesday. But he added that there is still work to be done to bring all global benchmarks under close supervision and avoid future catastrophes.

“While we should all be satisfied with the results achieved already, we should not underestimate the...

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