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Regulating Financial Benchmarks

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Panel 1 - Restoring the confidence in financial benchmarks Discussion points•   How do we increase the transparency regarding the accuracy of a benchmark, what it measures and what it should and should not be used for?•   Should there be any restrictions on the use of benchmarks?•   How should conflicts of interest be avoided?•   Who should ensure that the benchmark used is fit for purpose?•   How should third country benchmarks be treated?•   How can we create clear and transparent rules regarding contribution of data?•   Who should audit the contributed data, the index provider, an external auditor or the financial supervisor?  Panel 2 - The integrity of commodity benchmarks  Discussion points•   Are physical commodity benchmarks fundamentally different from benchmarks?•   Which aspects of the proposed regulation are submitters likely to find most onerous, and why? How would the proposed EU regulatory regime impact the quality of benchmarks? What is the likely impact of the number of submitters decreasing?•   How can the integrity of commodity benchmarks be enhanced? What transparency and governance arrangements should be put in place for commodities benchmarks?•   Should the Regulation entrust PRAs with a police/supervisory role on submitters given that MAD-MAR already covers the manipulation of all benchmarks?•   How important is the role of third country based submitters in ensuring high quality price assessments? Given that no other jurisdiction is planning to follow the EU proposed approach, would benchmarks move to other jurisdictions as a result of the proposed regulation? Could the move of benchmarks to other jurisdictions also cause trading to follow? Would there be an impact on European Energy security?•   Are there alternatives to the EC proposals on third country regime in order to avoid regulatory arbitrage? Do the IOSCO Oil PRAs Principles, which are applied to all commodities, already provide a robust basis for setting benchmarks in physical commodity markets?   Speaker line-upDan Tanz Vice President, Platts Editorial GroupPierre Davis Associate General Counsel, McGraw Hill FinancialEuropean Parliament MEPEuropean Commission High-level RepresentativePrivate stakeholdersAcademicsUser-side representativeMore information: qedcommunication.eu/2014benchmarks


5 Nov 2014 @ 02:00 pm

5 Nov 2014 @ 06:00 pm

Duration: 4 hours


Radisson Blu EU Hotel

Idaliestraat 35



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