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

TMG strengthens leadership team with sales and recruitment appointment

TMG Mortgage Network has appointed Jasmine Smith as head of sales and recruitment as...

OneDome named sixth fastest-growing UK tech company

OneDome, the UK housing and fintech platform, has been ranked sixth in the Sunday...

Vernon cuts variable rates across specialist mortgage range

Vernon Building Society has reduced variable mortgage rates by up to 0.16% across 11...

City of London Police launch national fraud reporting service

The City of London Police has launched Report Fraud, a national service designed to...

Kensington reduces fixed rates across buy-to-let proposition

Kensington Mortgages has reduced rates across its buy-to-let mortgage range, cutting pricing by up...

Latest publication

Other news

TMG strengthens leadership team with sales and recruitment appointment

TMG Mortgage Network has appointed Jasmine Smith as head of sales and recruitment as...

OneDome named sixth fastest-growing UK tech company

OneDome, the UK housing and fintech platform, has been ranked sixth in the Sunday...

Vernon cuts variable rates across specialist mortgage range

Vernon Building Society has reduced variable mortgage rates by up to 0.16% across 11...