The International Organization of Securities Commissions has constituted a Board Level Task Force on Financial Market Benchmarks to identify relevant benchmark-related policy issues and develop global policy guidance and principles for benchmark-related activities of particular relevance to market regulators.  The high level Task Force is composed of members of the IOSCO Board and will be chaired by Martin Wheatley, the Managing Director of the UK Financial Services Authority (UK FSA), and Gary Gensler, the Chairman of the US Commodity Futures Trading Commission (CFTC). The Task Force will take into account other relevant initiatives by policymakers and stakeholders on benchmarks and serve as the IOSCO representative, together with the Chairman of the IOSCO Board, in any other international work initiatives on benchmarking, with a view to avoiding overlap or inconsistencies.