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

Mortgage leaders prepare for four-day charity ride from Edinburgh to London

Senior figures from across the mortgage industry are preparing to cycle 456 miles in...

Scotland tipped to lead UK house price growth in 2026

Housing markets across Scotland and northern England are poised to deliver the strongest house...

Asset Advantage to hold broker roadshows on deal structuring around the UK

Asset Advantage is embarking on a series of regional events aimed at helping commercial...

Bank of Ireland for Intermediaries raises income multiples across bespoke mortgages

Bank of Ireland for Intermediaries has increased the maximum loan-to-income available across its Bespoke...

Newcastle for Intermediaries trims PT rates ahead of maturities

Newcastle for Intermediaries has reduced rates across its product transfer range, with pricing now...

Latest publication

Other news

Mortgage leaders prepare for four-day charity ride from Edinburgh to London

Senior figures from across the mortgage industry are preparing to cycle 456 miles in...

Scotland tipped to lead UK house price growth in 2026

Housing markets across Scotland and northern England are poised to deliver the strongest house...

Asset Advantage to hold broker roadshows on deal structuring around the UK

Asset Advantage is embarking on a series of regional events aimed at helping commercial...