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ARTICLE · 16 OCTOBER 2012

Professional & Financial Lines - Weekly Bulletin - October 2012

Clyde & Co
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The European Parliament’s Economic and Monetary Affairs Committee has voiced support for stricter punishments for market abusers, including a minimum five year custodial sentence, in an effort to curb market manipulation.

United KingdomFinance and Banking
James Cooper
James Cooper
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LIBOR manipulation coverage

Investigations and regulator action

The European Parliament's Economic and Monetary Affairs Committee has voiced support for stricter punishments for market abusers, including a minimum five year custodial sentence, in an effort to curb market manipulation. In response to low market confidence and calls for increased regulatory oversight, EU lawmakers have also backed the use of fines and administrative sanctions against market abusers, saying that self-regulation has become untenable. These proposals come on the back of calls by Michel Barnier, EU Commissioner for the Internal Market and Services, for nations to streamline their financial penalties to avoid marked differences in their approach to enforcement, and for the bloc generally to strengthen sanctions against market abusers.

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