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Speech: Gary Gensler, Chairman, CFTC - Rabobank penalty highlights importance of replacing benchmark rates

( October 29, 2013, 13:39 GMT | Official Statement) -- MLex Summary: The US Commodity Futures Trading Commission's $475 million penalty against Rabobank underscores the need to find replacements for benchmark rates like Libor and Euribor, CFTC Chairman Gary Gensler said in a Tuesday statement. Going forward, the CFTC will continue working with the Swiss-based Financial Stability Board to try and find alternatives to the benchmark rates, Gensler said. Statement follows in full....

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