Libor setting still not free of fraud, CFTC's Gensler says

02/21/2013 | BBC

Gary Gensler, chairman of the Commodity Futures Trading Commission, said fraud continues to affect the way the London Interbank Offered Rate is set. "We have a lot more work to do," said Gensler, who noted lapses in regulatory agencies tasked with overseeing the rate setting. Gensler is also co-chairman of the International Organization of Securities Comissions' Board Level Task Force on Financial Benchmarks and will address GFMA's event "The Future of Global Financial Benchmarks" on Feb. 28 in New York City in advance of IOSCO's guidance expected this spring.

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