Friday, 3rd August 2012
Amended proposal for a Directive of the European Parliament and of the Council on criminal sanctions for insider dealing and market manipulation
Source: European Commission
From Press Release:
In the recent LIBOR scandal, serious concerns have been raised about false submissions of banks' estimated interbank lending rates. Any actual or attempted manipulation of such key benchmarks can have a serious impact on market integrity, and could result in significant losses to consumers and investors, or distort the real economy. The European Commission has today acted to address this kind of market manipulation, by adopting amendments to the proposals for a Regulation and a Directive on insider dealing and market manipulation, including criminal sanctions, initially tabled on 20 October 2011. Today's amendments will clearly prohibit the manipulation of benchmarks, including LIBOR and EURIBOR, and make such manipulation a criminal offence.
+ Directive (PDF; 22 KB)
+ Regulation (PDF; 19 KB)
+ Press Release
By Adrian Janes
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