9/20/2013

U.K. Financial Conduct Authority CEO Martin Wheatley has vowed to keep a tight rein on a new process for setting the London Interbank Offered Rate, to be shepherded by NYSE Euronext. The system is getting a year's grace period, and Wheatley has vowed thorough reviews and a willingness to make tweaks. Wheatley also says a tougher stance might be necessary with other benchmarks, such as those for gold and oil.

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