European Commission, Council and Parliament have been in talks since May
The European Commission has welcomed an
agreement struck with the European Parliament and Council to
introduce sweeping new rules for financial benchmarks.
Lord Jonathan Hill, EU Commissioner for
Financial Stability, and Services, said on Wednesday:
"Benchmarks are critical for the functioning of our financial
markets. Manipulating benchmarks amounts to stealing from
investors and consumers and undermines confidence in
"Today's agreement will help to rebuild
confidence in financial markets in the European Union."
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