- Declaration embraces and endorses IOSCO framework set forth in July 2013
- Statement underpins FTSE Russell’s strong governance, product quality and accountability
FTSE Russell, the global index provider, today announces it has published its Statement of Compliance with the recommendations made by the International Organization of Securities Commissions (IOSCO), as laid out in the Principles for Financial Benchmarks and published in July 2013 (the IOSCO Principles).
The IOSCO Principles aim to promote the reliability of benchmarks addressing issues surrounding governance; the quality of benchmark design and methodology; and the accountability of the benchmark administrator. FTSE Russell is committed to leading best global practice standards and FTSE published its first statement in July 2014. Today’s announcement confirms the compliance of the combined FTSE Russell entity. As with FTSE’s 2014 statement, FTSE Russell has sought independent assurance from KPMG LLP.
This confirmation highlights FTSE Russell’s maintenance of strong governance controls, which benefit from robust procedures and experienced internal working groups, supported by external advisory committees. This statement also underpins the quality of FTSE Russell benchmarks and gives index users confidence that they accurately reflect the value of the asset classes being measured.
Mark Makepeace, CEO of FTSE Russell, said:
“We are committed to promoting the highest possible governance standards within our industry. As such, we continue to fully embrace the IOSCO Principles as set out in July 2013 and enthusiastically 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.”
For more information visit:
http://www.russell.com/indexes/americas/indexes/regulation.page