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International Business Times - 'Libor Fixing Scandal: EU Guidelines Are a Missed Opportunity'

Monday 10th June '13

Nik Bienkowski comments, "After months of deliberation, the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) have published a final report setting out their Principles for Benchmark-Setting Processes in the EU. The new framework quite rightly seeks to put clarity and transparency at the heart of the benchmarking process.

Unfortunately it has only partly succeeded.

The principles are not yet enshrined in law and as such, are only "principles". 

Read the full article.