FTSE Group has published its Statement of Compliance with the recommendations made by the International Organization of Securities Commissions (IOSCO) in the Principles for Financial Benchmarks published in July 2013.
The IOSCO Principles aim to promote the reliability of benchmarks addressing issues surrounding governance; the quality of benchmark design and methodology; and accountability.
FTSE has published a statement, with independent assurance from KPMG, explaining how its business operates within IOSCO’s proposed framework.
The statement highlights that FTSE has strong governance controls which benefit from robust procedures and experienced internal working groups, supported by external advisory committees. The findings also reflect favourably on the quality of FTSE’s benchmarks, with its index design ensuring that its indices accurately reflect the value of the asset classes being measured.
Mark Makepeace (pictured), CEO of FTSE Group, says: “FTSE is committed to promoting the highest possible governance standards within our industry. We fully embrace the IOSCO Principles set out in July 2013 and endorse its objectives to address conflicts of interest in the benchmark-setting process, enhance the reliability of benchmark determinations, and promote transparency and openness in all benchmark decisions.”
