Since the 2012 first tremor, multiple aftershocks of the earthquake related to IBORs benchmark rates’ scandal have occurred. Globally, over 10 billion penalties have been announced against the main banks or their staff (City, Société Générale, HSBC, …).

Against this manipulation, the BMR regulation is the European answer, aiming to reinforce the regulatory background related to the benchmark indices and to reshape their calculation methodology, especially the IBORs rates.

To this end, the regulation notably suggests to supervise the benchmarks’ administrators in order to avoid the manipulation and to guarantee the reliability of the methodology and the data used to provide the index.