A PYMNTS Company

EU: Parliament vote could close ‘loophole’ in LIBOR, energy markets

By  |  September 9, 2013

The European parliament is scheduled to vote this week on a bill that would strengthen regulators’ ability to fight price manipulation in the financial and energy markets, especially by rogue traders, in a move that parallels the European Commission’s investigation into gas giant BP and pricing agency Platts.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The Commission recently broadened its probe of BP’s oil trading practices in efforts to investigate alleged price manipulation across Europe.

    The European parliament’s vice-chair of the committee on economic affairs, Arlene McCarthy, said Sunday parliament plans to vote on the bill Wednesday. Further, she said she is hopefully the passage of the bill “will close the loophole on LIBOR and energy markets” and allow regulators to take stronger actions against abuses.

    Full Content: The Guardian

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.