The Libor rate scandal: exclude equity indexes from upcoming regulation, say providers

The Libor-rigging scandal has sparked moves to tighten the rules behind the production of key industry benchmarks. But are regulators right to have roped broader equity indexes into a debate that was triggered by attempts to rig a financial market reference rate? Hannah Collins reports

The prospect of greater regulation of financial benchmarks in the wake of attempts to rig the Libor rate is getting closer after two public consultations by international securities regulators concluded last week. 

In January, the European Securities and Markets Authority (Esma) and the European Banking Authority (EBA) jointly published a consultation paper called Principles for Benchmarks-Setting Processes in the EU. In the same month, the International Organization of Securities Commissions