Elaboration of Regulation in Consequence of the LIBOR Manipulations

• Main Author: Rustam A. Kasyanov
• Format: Article
• Language: English
• Published: Moscow State Institute of International Relations (MGIMO) 2014-06-01
• Series: Московский журнал международного права
• Subjects: европейский союз; европейские финансовые рынки; рыночные злоупотребления; инсайдерская сделка; рыночное манипулирование; european union; european fi nancial markets; market abuse; insider dealing; market manipulation
• Online Access: https://www.mjil.ru/jour/article/view/25
• ISSN: 0869-0049; 2619-0893

Not long ago periodicals specializing in the fi eld of law and fi nance revealed some details of fraudulent actions connected with the London Inter-Bank Offered Rate (LIBOR). In a certain moment it seemed that the scandal with LIBOR manipulations would not lead to any serious reforms, including those of the legal nature, and the outcome would be limited to separate sanctions against several large European and American banks. However, the European Union in full conformity with the purposes of its fi nancial services policy has drafted new regulatory acts which will come into force in the near future and will allow combating more effi ciently with various kinds of market abuse.