Implications of Singapore’s financial benchmark proposals
Singapore’s central bank has proposed criminal and civil sanctions for benchmark manipulation in a bid to improve trading transparency. Experts are divided whether it will work.
The Monetary Authority of Singapore (MAS) is consulting the market on its plans to strengthen the transparency and integrity of financial benchmarks. The proposal, published on July 29, will make financial benchmark manipulation a criminal and civil offense, and force administrators and submitters of key benchmark rates to hold licences. Feedback is due by August 29.
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