The UK's Financial Services Authority (FSA) has revealed the final rules that will be used to regulate the Libor rate, just days before the FSA is due to be replaced by new ‘twin peaks' regulators.
The final rules are based on a consultation paper issued in December 2012, and incorporate comments submitted by Libor panel banks, trade associations, other index and benchmark administrators and market infrastructure providers.
A key element of the final rules is that the new administrator will be r
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