A PYMNTS Company

EU: National vs. EU LIBOR regulation stirs controversy

By  |  June 6, 2013

As reports have emerged that European regulators are looking to possibly take over the supervision of LIBOR and other financial benchmarks, antitrust experts are raising concerns that the move is likely to clash with British regulators who are currently spearheading the LIBOR scandal case now. According European financial lawmaker Sharon Bowles, the move is “intrusive” to British authorities and will likely change before approved into law. Bowles, who heads the EU Parliament’s economic and monetary affairs committee, told reporters that there will be much “sensitivity” regarding the proposed legislations, which would not likely come into effect before 2014. The EU’s proposals will not only focus on LIBOR, but will also look to prevent other benchmark manipulations such as those that delegate the prices of oil and commodities.

    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.

    Full Content: Reuters

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

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