Following the recent discovery of fraudulent manipulation of interest rate benchmarks, Regulation (EU) 2016/2011 is expressly intended to safeguard the integrity of benchmarks: Indices used within the EU single market to determine values and cash flows of financial instruments and financial contracts or to measure performance of financial investments should be robust, accurate and have integrity. The regulation, which came into force in June 2016, therefore binds stakeholders to a strict code governing qualifications and conduct.
We advise on the proper implementation of the benchmark regulation and work to create reliability for all parties involved through our quality-assured auditing services.
Stefano Hartl
Partner, Financial Services
KPMG AG Wirtschaftsprüfungsgesellschaft
