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

SortRefer marks 17 years with record month for instructions and completions

SortRefer has marked its 17th anniversary after reporting its strongest monthly performance to date...

The Mortgage Works cuts buy-to-let rates on selected new business deals

The Mortgage Works is cutting selected buy-to-let and let-to-buy rates by up to 0.20...

Primis promotes three in push to expand recruitment and regional broker support

Primis has promoted three senior executives as it seeks to recruit more adviser firms...

Santander cuts higher LTV rates for first-time buyers and home movers

Santander is cutting selected fixed mortgage rates across its first-time buyer, home mover and...

Virgin Money cuts fixed rates and raises selected tracker pricing

Virgin Money is reducing fixed mortgage rates across purchase, remortgage and selected buy-to-let product...

Latest publication

Other news

SortRefer marks 17 years with record month for instructions and completions

SortRefer has marked its 17th anniversary after reporting its strongest monthly performance to date...

The Mortgage Works cuts buy-to-let rates on selected new business deals

The Mortgage Works is cutting selected buy-to-let and let-to-buy rates by up to 0.20...

Primis promotes three in push to expand recruitment and regional broker support

Primis has promoted three senior executives as it seeks to recruit more adviser firms...