The U.K. intends to take severe action against the illegal
manipulation of market interest rates, German daily Handelsblatt
reports Tuesday, citing an interview with Mark Hoban, the financial
secretary to the Treasury. He said anyone who falsifies market indexes
should land in jail, the newspaper reported.
Mr. Hoban also called for investigators to have access to bankers'
telephone, email, Facebook and Twitter accounts, in order to hunt down
criminal actions, the newspaper said. The U.K. is looking to implement
related laws by the year's end, the newspaper said.
Hoban said 10 to 14 banks are involved in the Libor manipulation
scandal, Handelsblatt reported. He said the alleged involvement of
Barclays PLC (BCS, BCS.LN) triggered the investigation, which has
since revealed that banks in other EU states, in Japan and in the U.S.
are allegedly involved, Handelsblatt reported.
Newspaper Web site: http://www.handelsblatt.de
Write to Dow Jones Newswires at dennis.baker@dowjones.com
(END) Dow Jones Newswires
July 09, 2012 19:05 ET (23:05 GMT)
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