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

Beyond the walk: Mortgage leaders talk mental health – part 19

The Mortgage Industry Mental Health Charter's (MIMHC) third annual 144-mile Walk & Talk challenge...

Income protection demand surges as UK protection market ‘rebalances’

Demand for income protection continued to accelerate during 2025 as advisers and consumers increasingly...

Equity Release Council to launch later life lending leadership symposium

The Equity Release Council is to launch a new leadership format for its annual...

Long-term vacant homes in England rise 14.5%

The number of long-term vacant homes in England has risen by 14.5%, despite continued...

Tenant support for Renters’ Rights Act grows

Awareness and support for the Renters’ Rights Act has risen sharply among tenants since...

Latest publication

Other news

Beyond the walk: Mortgage leaders talk mental health – part 19

The Mortgage Industry Mental Health Charter's (MIMHC) third annual 144-mile Walk & Talk challenge...

Income protection demand surges as UK protection market ‘rebalances’

Demand for income protection continued to accelerate during 2025 as advisers and consumers increasingly...

Equity Release Council to launch later life lending leadership symposium

The Equity Release Council is to launch a new leadership format for its annual...