Benchmark Regulations

On 29 June 2016, Regulation (EU) 2016/1011 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (the Regulations) was published in the Official Journal of the European Union (OJEU).

The Regulations are a European legislative response to the LIBOR scandal and the allegations and subsequent investigations into manipulation of the setting of LIBOR, EURIBOR and other benchmarks.