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Call for criminal sanctions for Libor abuse


economy

Call for criminal sanctions for Libor abuse

Europe’s top regulatory official is set to propose new rules that would criminalise the manipulation of benchmarks such as Libor.

Michel Barnier wants to amend proposed market-abuse legislation that is designed to clamp down on amongst other areas the manipulation of a reference such as Libor.

“We need to draw lessons from the Libor case,” a spokesman for the EU Commissioner for Internal Market and Services said.

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