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

Hope Capital expands Shawbrook funding facility

Hope Capital Property Finance has increased its committed funding facility with Shawbrook Bank to...

Pivotal linked to Beneficial Network deal

LSL Property Services is understood to have agreed a deal involving Beneficial mortgage network...

London leads rental growth as supply shortage keeps rents high

London recorded the strongest monthly increase in average rents as demand continued to outstrip...

TMG reports record monthly MetLife submissions

TMG recorded its highest monthly submission volume with MetLife, exceeding its previous record by...

Leek raises earned income age limit to 75

Leek Building Society has introduced eight lending criteria changes covering income, contractors, later-life borrowing...

Latest publication

Other news

Hope Capital expands Shawbrook funding facility

Hope Capital Property Finance has increased its committed funding facility with Shawbrook Bank to...

Pivotal linked to Beneficial Network deal

LSL Property Services is understood to have agreed a deal involving Beneficial mortgage network...

London leads rental growth as supply shortage keeps rents high

London recorded the strongest monthly increase in average rents as demand continued to outstrip...