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

Zoopla signs Manchester Super Giants shirt deal

Zoopla has become the first official front-of-shirt partner of Manchester Super Giants for the...

Southwest Knotweed launches identification app

Southwest Knotweed Group has launched an app designed to help mortgage and property professionals...

Broker Conveyancing launches referral hub for advisers

Broker Conveyancing has launched a referral platform intended to make it quicker for mortgage...

House price rise puts mortgage resilience in sharper focus

Homebuyers should consider how they would meet mortgage payments if illness or injury affected...

Simplify’s trust gives £22,500 to nine local charities

The Simplify Charitable Trust has donated £22,500 to nine charities working in communities across...

Latest publication

Other news

Zoopla signs Manchester Super Giants shirt deal

Zoopla has become the first official front-of-shirt partner of Manchester Super Giants for the...

The case for tech fluency before AI adoption in the mutual sector

It often feels like there is only one conversation taking place in financial services...

Southwest Knotweed launches identification app

Southwest Knotweed Group has launched an app designed to help mortgage and property professionals...