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

SPF Private Clients signs AI technology agreement with LendWell

SPF Private Clients has agreed a multi-year partnership with Irish mortgage technology firm LendWell...

Leek BS cuts 95% LTV mortgage rates by up to 0.64 percentage points

Leek Building Society is reducing rates across its 95% loan-to-value (LTV) residential mortgage range...

Why ownership structure matters in buy-to-let

It's a scenario brokers encounter every day. Two landlord clients approach them about the...

Barclays widens affordability criteria for company directors

Barclays has widened its mortgage affordability criteria for limited company directors by expanding the...

Just 16% of full-time workers have income protection

Only 16% of full-time workers have income protection - highlighting a significant protection gap...

Latest publication

Other news

SPF Private Clients signs AI technology agreement with LendWell

SPF Private Clients has agreed a multi-year partnership with Irish mortgage technology firm LendWell...

Leek BS cuts 95% LTV mortgage rates by up to 0.64 percentage points

Leek Building Society is reducing rates across its 95% loan-to-value (LTV) residential mortgage range...

Why ownership structure matters in buy-to-let

It's a scenario brokers encounter every day. Two landlord clients approach them about the...