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Iosco unveils final principles for financial benchmarks

Principles recommend that benchmarks should be backed by real transactions wherever possible

The International Organization of Securities Commissions has released its final report on financial benchmarks, setting a new framework for critical rates like the London Interbank Offered Rate that have been plagued by allegations of manipulation.

The report contains a set of principles designed to improve the integrity and reliability of financial benchmarks in the wake of the recent scandals. It comes less than a week after NYSE Euronext won a tender to replace the British Bankers Association as the administrator for Libor.

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