The European Commission adopted yesterday additional “measures to restore confidence in benchmarks following Libor and Euribor scandals”. The new draft legislation complements the political agreement on Market Abuse Regulation proposed by the Commission last July and endorsed by the Parliament and the Council. Benchmark setting is not confined only to interest rates like Libor and […]The EU lets the bankers go on rigging the benchmarks
September 19, 2013 by Leave a Comment
The European Commission adopted yesterday additional “measures to restore confidence in benchmarks following Libor and Euribor scandals”. The new draft legislation complements the political agreement on Market Abuse Regulation proposed by the Commission last July and endorsed by the Parliament and the Council. Benchmark setting is not confined only to interest rates like Libor and […]Commission’s feeble response to financial benchmarks fraud
September 9, 2013 by 1 Comment
On Wednesday 18 September the European Commission is expected to propose a draft legislation on financial benchmarks to protect their setting from fraud and collusion. The stakes are so big that surpass the wildest imagination. For example Libor, the London market interest rate benchmark, is used as a base for interest rates settlements all over […]All talk but no action against fraudulent bankers
August 26, 2013 by Leave a Comment
The European Commission plans to propose on Wednesday 18 September draft legislation against the fraudulent setting and use of financial benchmarks like Euribor, Libor and the Baltic Indices. This comes on top of investigations launched recently in London, New York even in Brussels, where bankers are being criminally prosecuted, and thirteen giant western investment banking […]
