UK to extend Libor manipulation laws to cover gold, oil, silver

Section:

By William James
Reuters
Monday, December 22, 2014

LONDON -- Britain will widen the scope of laws that make the manipulation of market benchmarks a criminal offense to include seven more rates covering the currency, gold, oil, and silver markets by April 1, the government said Monday.

The move is the latest by the Conservative-led government to clamp down on malpractice in the City of London, whose reputation has been tarnished by an interest rate-rigging scandal and claims that traders colluded to manipulate currency rates.

"Ensuring that the key rates that underpin financial markets here and around the world are robust, and that anyone who seeks to manipulate them is subject to the full force of the law, is an important part of our long-term economic plan," finance minister George Osborne said in a statement. ...

... For the remainder of the report:

http://www.reuters.com/article/2014/12/22/us-britain-forex-law-idUSKBN0K...

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