The UK took its first meaningful step to address bank manipulation of inputs into Libor with the publication of a discussion paper aimed at soliciting industry feedback prior to introducing new rules to tighten governance of key financial benchmarks.
Martin Wheatley, chief executive-designate of the UK's new Financial Conduct Authority, is leading the investigation to reform Libor and has published his early findings in a report, The Wheatley Review of Libor: an initial discussion.
The UK govern
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