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

New-build asking prices edge higher as regional divide widens

The average asking price of newly instructed new-build homes in Great Britain edged higher...

LGSS targets growth as valuation market becomes more complex

Legal & General Surveying Services is seeking to increase its profile in the mortgage...

Mortgage industry backs alcohol-free MIMHC lunch

An alcohol-free event organised by the Mortgage Industry Mental Health Charter (MIMHC) has secured...

The blind spot: residential advisers and the over-55 customer

Yesterday I talked about the supportive nature of the equity release and later life...

HSBC cuts residential and buy-to-let mortgage rates

HSBC UK is reducing rates across its residential and buy-to-let mortgage ranges from 19...

Latest publication

Other news

New-build asking prices edge higher as regional divide widens

The average asking price of newly instructed new-build homes in Great Britain edged higher...

LGSS targets growth as valuation market becomes more complex

Legal & General Surveying Services is seeking to increase its profile in the mortgage...

Mortgage industry backs alcohol-free MIMHC lunch

An alcohol-free event organised by the Mortgage Industry Mental Health Charter (MIMHC) has secured...