Oversight committee responsibilities govern index design, methodology changes and conflict of interest safeguards and audit remediation oversight.

The oversight committee must be independent and experienced, separate from day-to-day index calculation, and govern benchmark determination including reviewing changes to index design and computation methodology, assessing subscriber or client impacts, ensuring the index is true to label, overseeing introduction of new benchmarks, supervising cessation procedures, overseeing Expert Judgement procedures, periodically reviewing underlying market conditions for structural change, and directing remedial action on audit findings.

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