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

Gen Z driving homeownership demand as deposits shrink

Confidence in the UK housing market is improving with Gen Z buyers driving demand...

Brilliant Solutions makes sales director appointment

Brilliant Solutions has promoted Ivan Vizor to the role of sales director, following a...

TPFG expands intermediary footprint with Smart Advice deal

The Property Franchise Group (TPFG) has acquired an 85% stake in Smart Advice Financial...

Most homeowners rule out downsizing as a retirement strategy

Fewer than one in five people expect to move to a smaller home in...

LendInvest hires specialist bridging business development manager

LendInvest Mortgages has appointed Caelan Gokani as a business development manager within its specialist...

Latest publication

Other news

Gen Z driving homeownership demand as deposits shrink

Confidence in the UK housing market is improving with Gen Z buyers driving demand...

Brilliant Solutions makes sales director appointment

Brilliant Solutions has promoted Ivan Vizor to the role of sales director, following a...

TPFG expands intermediary footprint with Smart Advice deal

The Property Franchise Group (TPFG) has acquired an 85% stake in Smart Advice Financial...