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

HLPartnership sets out leadership transition as Chris Tanner steps back

HLPartnership has announced plans for a leadership transition that will see BetterHome Group chief...

NatWest joins lenders increasing mortgage rates as market uncertainty grows

NatWest has become the latest major lender to announce increases to its fixed mortgage...

Lloyds highlights mortgage support as fixed-rate deals come to an end

Lloyds is reminding homeowners approaching the end of their fixed-rate mortgage deals that a...

Together raises £563m through latest residential mortgage securitisation

Together has completed the pricing of a £562.9 million residential mortgage-backed securitisation, marking its...

Molo strengthens leadership team with chief operations officer appointment

Molo has appointed Lynne French as chief operations officer as the specialist mortgage lender...

Latest publication

Other news

HLPartnership sets out leadership transition as Chris Tanner steps back

HLPartnership has announced plans for a leadership transition that will see BetterHome Group chief...

NatWest joins lenders increasing mortgage rates as market uncertainty grows

NatWest has become the latest major lender to announce increases to its fixed mortgage...

Lloyds highlights mortgage support as fixed-rate deals come to an end

Lloyds is reminding homeowners approaching the end of their fixed-rate mortgage deals that a...