On December 16, 2016, the International Organization of Securities Commissions published its final Report outlining Guidance on reporting in compliance with its Principles for Financial Benchmarks. The purpose of the Guidance is to increase the consistency and quality of reporting by Benchmark Administrators on their compliance with the Principles, which were published in July 2013. The Principles outline a set of recommended practices that should be implemented by Benchmark Administrators and Submitters. The Report follows a survey of 29 Benchmark Administrators conducted by IOSCO, to identify any relevant challenges and issues, on topics such as the status of their implementation of the Principles and the number of benchmarks they administer. IOSCO developed the Guidance based on the feedback received.
The Report is available at: http://www.iosco.org/library/pubdocs/pdf/IOSCOPD549.pdf and the Principles for Financial Benchmarks is available at: http://www.iosco.org/library/pubdocs/pdf/IOSCOPD415.pdf .
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
