CEO of HedgeSPA Bernard Lee commented that the LIBOR rate-fixing scandal may benefit companies and individuals eventually as it could affect how LIBOR rates are being set. He said that the resetting process is going to be eventually upgraded so that it is a closer reflection of where the market is trading at. Mr Lee also remarked that Asian financial institutions could get a bigger say in the rate setting decision, as they are representing an increasing significant proportion of the world’s surplus wealth.

Channel News Asia – July 4, 2012