Monday, March 18, 2013
Enhancing Financial Benchmarks: Comments on the OICU-IOSCO Consultation Report on Financial Benchmarks
Posted by D. Daniel Sokol
Rosa M. Abrantes-Metz, Global Economics Group, LLC; New York University - Leonard N. Stern School of Business - Department of Economics and David S. Evans, University of Chicago Law School; University College London; Global Economics Group offer Enhancing Financial Benchmarks: Comments on the OICU-IOSCO Consultation Report on Financial Benchmarks.
ABSTRACT: In this Comment we advance a number of guiding principles on matters of benchmark formation, administrative governance, screening, transparency and regulation, in response to the OICU-IOSCO Consultation Report on Financial Benchmarks dated January 2013 (“Report”). We are looking for practical solutions which discourage, to the extent possible, attempts at manipulation or fraud while providing the most useful information to the market.