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

Regions share £10bn allocation for 70,000 affordable homes

More than 70,000 social and affordable homes are to be built across six English...

Amanda Bryden appointed to lead Accord Mortgages

Yorkshire Building Society has appointed Amanda Bryden as director of distribution and incoming managing...

TMG backs Rotherham United Women in shirt sponsorship deal

TMG Financial Services has agreed a partnership with Rotherham United Women FC to become...

ModaMortgages adds fixed-fee options to limited-edition range

ModaMortgages has expanded its limited-edition buy-to-let range with new fixed and percentage-based product fee...

Rely cuts rates for landlords with large property portfolios

Rely has launched a limited-edition range of buy-to-let mortgages for landlords who own 11...

Latest publication

Other news

Why the FCA’s Protection Report is a wake-up call and a massive opportunity for advisers

According to Mortgage Advice Bureau, approximately 90% of all mortgages are secured through an...

Regions share £10bn allocation for 70,000 affordable homes

More than 70,000 social and affordable homes are to be built across six English...

Amanda Bryden appointed to lead Accord Mortgages

Yorkshire Building Society has appointed Amanda Bryden as director of distribution and incoming managing...