UK: FCA thematic review results - financial benchmarks - oversight and controls

The Financial Conduct Authority has published the results of its thematic review of firms’ oversight and controls in relation to financial benchmarks: see here (pdf). The review found that all firms had made changes but all had further work to do. In the FCA's view, in many firms change had lacked urgency and progress in improving oversight and controls had been slow. A summary of the review's findings is available here.