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UK: More London-based rate manipulation claims probed

By  |  February 4, 2014

The UK’s Financial Conduct Authority said it is probing possible manipulation of additional London-based market rate benchmarks following the LIBOR scandal.

FCA head Martin Wheatley spoke at the Treasury select committee to announce investigations into other benchmarks, though declined to specify as the probes are not yet public.

The investigations follow a global LIBOR rate rigging scandal that manipulated benchmarks used to price trillions of dollars worth of loans.

Since, UK authorities, as well as regulators in Europe, Asia and the US, have looked into possible manipulation of the foreign exchange rate benchmark.

Full Content: The Guardian

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