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

Keystone launches special edition HMO range

Keystone Property Finance has launched a number of special edition HMO & MUFB products...

Precise launches cashback products and cuts rates

Precise has launched a new range of 60% LTV ‘limited edition’ products and reduced...

West Brom launches interest-only and discounted products

West Brom Building Society has launched new interest-only and discount variable products and reduced...

The Right Academy targets 100 trainee advisers after strong start

The Right Academy, the specialist training programme from The Right Mortgage & Protection Network,...

Furness BS reports record app-to-offer rates

Furness Building Society is reporting record app-to-offer rates as it continues to roll out...

Latest publication

Other news

Keystone launches special edition HMO range

Keystone Property Finance has launched a number of special edition HMO & MUFB products...

Precise launches cashback products and cuts rates

Precise has launched a new range of 60% LTV ‘limited edition’ products and reduced...

West Brom launches interest-only and discounted products

West Brom Building Society has launched new interest-only and discount variable products and reduced...