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White Collar Crime and RiskCompetition Law and LIBOR in Three Jurisdictions: The United States of America, the United Kingdom and the European Union

White Collar Crime and Risk: Competition Law and LIBOR in Three Jurisdictions: The United States... [The London Interbank Offered Rate, better known as LIBOR, has ridden turbulent times over the last decade. Major banks, either through the collusion of individual traders operating on a discrete basis or on the instructions from more senior personnel, but always trading across national borders and on a global level, fixed the rate for at least four years. This resultant rigged market worked to limit competition and led to massive profits for the banks and individual traders. Furthermore, it enabled banks to be insulated from the shocks of the market during the financial crisis of 2007–8 and the consequences of that crisis. This chapter will investigate this market manipulation through the lens of competition law, and specifically price fixing, from the perspective of the three jurisdictions of the USA, the EU and the UK.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

White Collar Crime and RiskCompetition Law and LIBOR in Three Jurisdictions: The United States of America, the United Kingdom and the European Union

Part of the Palgrave Studies in Risk, Crime and Society Book Series
Editors: Ryder, Nic
Ball, Richard
White Collar Crime and Risk — Dec 7, 2017
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37 pages

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References (7)

Publisher
Palgrave Macmillan UK
Copyright
© The Editor(s) (if applicable) and The Author(s) 2018. Corrected publication 2018. The author(s) has/have asserted their right(s) to be identified as the author(s) of this work in accordance with the Copyright, Designs and Patents Act 1988.
ISBN
978-1-137-47383-7
Pages
163 –200
DOI
10.1057/978-1-137-47384-4_7
Publisher site
See Chapter on Publisher Site

Abstract

[The London Interbank Offered Rate, better known as LIBOR, has ridden turbulent times over the last decade. Major banks, either through the collusion of individual traders operating on a discrete basis or on the instructions from more senior personnel, but always trading across national borders and on a global level, fixed the rate for at least four years. This resultant rigged market worked to limit competition and led to massive profits for the banks and individual traders. Furthermore, it enabled banks to be insulated from the shocks of the market during the financial crisis of 2007–8 and the consequences of that crisis. This chapter will investigate this market manipulation through the lens of competition law, and specifically price fixing, from the perspective of the three jurisdictions of the USA, the EU and the UK.]

Published: Dec 7, 2017

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