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

 |  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.

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

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