UK officials plan to challenge EU's benchmark proposals

UK officials are gearing up to negotiate changes in proposals by EU Internal Market Commissioner Michel Barnier to strengthen benchmark rules, a UK official says. Barnier has presented proposals that would govern thousands of benchmarks covering mortgage, oil, rice and other markets. "Today's proposals will ensure for the first time that all benchmark providers have to be authorised and supervised; they will enhance transparency and tackle conflicts of interest," Barnier said.

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