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

Brilliant racks up a memorable afternoon for charity

Brilliant Solutions was on cue at Rileys as 70 players and several late arrivals...

Rayner rules out rent controls

Housing Secretary Angela Rayner has ruled out rent controls in England, providing greater certainty...

Mortgage Brain adds Uinsure home insurance quotes to CRM platform

Mortgage Brain has integrated Uinsure with CRM Brain, allowing brokers to arrange buildings and...

Nationwide and Accord the latest to increase rates

Mortgage borrowers have been urged to review their options after Nationwide and Accord increased...

Four in five first-time buyers say schools failed to teach mortgage basics

Almost four in five UK first-time buyers believe their education failed to prepare them...

Latest publication

Other news

Brilliant racks up a memorable afternoon for charity

Brilliant Solutions was on cue at Rileys as 70 players and several late arrivals...

Rayner rules out rent controls

Housing Secretary Angela Rayner has ruled out rent controls in England, providing greater certainty...

Mortgage Brain adds Uinsure home insurance quotes to CRM platform

Mortgage Brain has integrated Uinsure with CRM Brain, allowing brokers to arrange buildings and...