EU to criminalise interest rate manipulation

Published on

European parliament

The European Commission has moved to make interest-rate manipulation a crime across the EU.

This will cover behaviour of the type seen in London and elsewhere in the LIBOR scandal.

The Commission’s investigation into possible cartels linked to the manipulation of interest-rate benchmarks also continues.

It has adopted amendments to its proposals for a Regulation and a Directive on insider dealing and market manipulation, including criminal sanctions, initially put forward for agreement to the Member States and the European Parliament on 20 October 2011.

The amendments will prohibit the manipulation of benchmarks, including LIBOR and EURIBOR, and make such manipulation a criminal offence.

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

1 COMMENT

  1. You mean its not already?
    Amazing.
    Surely its no better than insider dealing.
    Of course, it does depends who's mates are gaining financially from this type of thing before certain powers that be decide if its wrong or not.

Comments are closed.

Latest articles

Shawbrook and TML cut buy-to-let rates

Shawbrook and The Mortgage Lender have made a series of changes to their buy-to-let...

Homebuying stress outweighs divorce for many buyers

Almost half of homeowners say moving house is the most stressful life event they...

Landlords seek greater certainty from lenders as mortgage market volatility bites

Landlords are continuing to borrow and invest despite recent mortgage market disruption, but are...

TPFG sees landlord compliance opportunity from RRA

The Property Franchise Group (TPFG) says the introduction of the Renters’ Rights Act (RRA)...

Gen H doubles one-touch underwrites on complex mortgage cases

Gen H has doubled the number of complex mortgage cases receiving a one-touch underwrite...

Latest publication

Other news

Shawbrook and TML cut buy-to-let rates

Shawbrook and The Mortgage Lender have made a series of changes to their buy-to-let...

Homebuying stress outweighs divorce for many buyers

Almost half of homeowners say moving house is the most stressful life event they...

Landlords seek greater certainty from lenders as mortgage market volatility bites

Landlords are continuing to borrow and invest despite recent mortgage market disruption, but are...