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

High street banks line up in £2.5bn contest for Evelyn Partners

Barclays and NatWest Group have progressed to the second round of an auction for...

Improving mortgage choice and lower rates ease affordability pressures for homebuyers

Homebuyers entering the market this Christmas are benefiting from improved mortgage choice and lower...

Cynergy Bank completes first residential mortgage-backed securitisation

Cynergy Bank has completed its debut securitisation transaction, securing capital relief as it continues...

Home insurance price falls ease as market shows signs of stabilising

Average combined buildings and contents premiums continued to edge lower last month, according to...

Hamptons fundraising partnership with Mind reaches £150,000 milestone

Estate agency Hamptons has raised £150,000 for mental health charity Mind since the partnership...

Latest publication

Other news

The questions I was asked most this year

Why did you join Teachers Building Society? It’s no secret that prior to joining Teachers...

High street banks line up in £2.5bn contest for Evelyn Partners

Barclays and NatWest Group have progressed to the second round of an auction for...

Improving mortgage choice and lower rates ease affordability pressures for homebuyers

Homebuyers entering the market this Christmas are benefiting from improved mortgage choice and lower...