Regulators prepare recommendations on rate-setting process

Martin Wheatley, CEO of the U.K. Financial Conduct Authority, and Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, are leading a panel of regulators in preparing recommendations for setting benchmark interest rates. The regulators are striving to eliminate conflicts and other issues that have resulted in manipulation of the London Interbank Offered Rate and possibly other benchmark rates.

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