Three former Barclays traders have been
found guilty by a London court of conspiring to manipulate the London Interbank
Offered Rate (Libor) benchmark interest rate.
According to a statement from the UK
Serious Fraud Office (SFO) Monday, trader Jay Merchant, ...
Implementation of a reformed Euro Interbank Offered Rate (Euribor) is expected to happen in the first half of 2017, according to the Financial Stability Board (FSB).
The FSB – which groups G20 financial authorities - has published an update on the process ...
New York Attorney
General Eric Schneiderman has announced a $100 million, 44-state settlement
with Barclays Bank and Barclays for “fraudulent and anticompetitive conduct” involving
the manipulation of USD Libor (London Interbank Offered Rate) and other
benchmark interest rates.
During the period ...
In a new whitepaper issued today, Thomson Reuters claims that regulators are requiring firms that contribute to financial benchmarks to face increased scrutiny of their record-keeping and information governance policies.
The paper, “Information Governance Reform for Benchmark Submitters”, focuses on the global momentum for regulatory change following the Libor and FX benchmark scandals and examines the challenges submitters now face.
It notes that, because most benchmarks are global and therefore cross jurisdictions, individual benchmarks may have multiple sources of regional regulations. As a result, firms are now required to ensure compliance with an expanded scope of guidelines and relevant jurisdictions.