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WM needs ‘substantial work’ to meet benchmark guidelines, IOSCO says

( September 30, 2014, 08:32 GMT | Official Statement) -- MLex Summary: WM Co. needs “substantial work” to fulfill guidelines on financial benchmarks for its WM/Reuters 4.p.m Closing Spot Rate in foreign exchange, the global body of market regulators said, while noting that the company is already working on several of its recommendations. Today’s report accompanies a more tailored set of recommendations by the Financial Stability Board (here) and should be followed by another review next year, the body said....

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