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

Healey takes Treasury as Burnham puts housing among early priorities with Rayner appointment

John Healey was appointed chancellor of the exchequer last night as new prime minister...

Toni Smith on the human factor and the fourth emergency service

After nearly four decades in financial services, Sesame Network distribution director Toni Smith still...

Newcastle widens mortgage support scheme with 95% LTV option

Newcastle for Intermediaries has relaunched its Joint Mortgage Sole Proprietor (JMSP) range with broader...

Shamplina joins Panorama rental fraud investigation

Landlord Action founder Paul Shamplina will appear in a BBC Panorama investigation into criminal...

Scotland leads Q2 landlord yield growth

Landlord gross rental yields strengthened during the second quarter, driven by growth in Scotland,...

Latest publication

Other news

Healey takes Treasury as Burnham puts housing among early priorities with Rayner appointment

John Healey was appointed chancellor of the exchequer last night as new prime minister...

Toni Smith on the human factor and the fourth emergency service

After nearly four decades in financial services, Sesame Network distribution director Toni Smith still...

Newcastle widens mortgage support scheme with 95% LTV option

Newcastle for Intermediaries has relaunched its Joint Mortgage Sole Proprietor (JMSP) range with broader...