Brussels, 25/07/2012 (Agence Europe) - The European Commission wants to prevent rate-fixing seen recently for the LIBOR benchmark repeating itself in the future and is therefore proposing that such rate-fixing be made a crime for which offenders can be sent to prison, as is the case in the United States. On Wednesday 25 July, it unveiled draft legislation to this end, to be added to its draft insider dealing and market abuse directive unveiled in October 2011 (see EUROPE 10476).
Unveiling...