EU regulators are striving to prevent issues related to the London Interbank Offered Rate and other benchmarks by publishing guidelines ahead of a wider-reaching law. "The final principles now give clarity to benchmark providers and users in the European Union about what is expected of them when engaged in this critical market activity," said European Securities and Markets Authority Chairman Steven Maijoor. Meanwhile, Sharon Bowles, who leads the European Parliament's economic and monetary affairs committee, said EU plans to shift supervision of the Libor and other benchmark rates to ESMA are "intrusive."

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