Energy should be exempt from benchmark rules, argues EC official
Energy benchmarks should not be included in European Commission (EC) plans to more tightly regulate financial indexes, as doing so would duplicate existing regulation, according to Philip Lowe, the EC’s director-general for energy.
After the emergence of allegations major banks rigged Libor rates, European authorities have taken a pointed interest in financial benchmarks. On June 6, the Paris-based European Securities and Markets Authority (Esma) and the London-based European Banking Authority
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