The Commission has proposed draft legislation to help restore confidence in the integrity of benchmarks. The new rules will enhance the robustness and reliability of benchmarks, facilitate the prevention and detection of their manipulation and clarify responsibility for the supervision of benchmarks by the authorities. Key elements of the proposal include improving the governance and controls over the benchmark process, improving quality of input data and methodologies used, ensuring contributors provide adequate data and are subject to adequate controls, ensuring adequate protection for consumers and investors using benchmarks, and ensuring the supervision and viability of critical benchmarks.