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

Student loan repayments leave aspiring FTBs £2k a year behind on deposit savings

Barclays Property Insights suggests student loan repayments are continuing to weigh on first-time buyers,...

The Cambridge marks 175 years with £175k community donation

The Cambridge Building Society has set out the scale of its community investment during...

Smart Data homebuying reforms could add £2.06bn a year to GDP

The Open Property Data Association (OPDA) has said a new government report strengthens the...

Mortgage arm helps drive LSL to higher profits and record margin

LSL Property Services said growth in its mortgage business helped lift underlying operating profit...

INDUSTRY REACTION: MPC holds Bank Rate at 3.75%

The Bank of England's Monetary Policy Committee (MPC) has voted to keep the Bank...

Latest publication

Other news

Student loan repayments leave aspiring FTBs £2k a year behind on deposit savings

Barclays Property Insights suggests student loan repayments are continuing to weigh on first-time buyers,...

Renters’ Rights Act and what it means for professional landlords and brokers

The Renters’ Rights Act marks a new era for the property market. While the...

The Cambridge marks 175 years with £175k community donation

The Cambridge Building Society has set out the scale of its community investment during...