by David Schwartz J.D. CPA | Jun 20, 2017 | All, Change Overview and Rationale, Formal Regulatory Remedies
The London Interbank Offered Rate (LIBOR) has been the primary short-term reference interest rate for nearly fifty years. Following a scandal wherein employees of rate-setting banks were implicated in manipulating LIBOR, U.S., European, and other regulators embarked...
by David Schwartz J.D. CPA | Jul 26, 2016 | All, Change Overview and Rationale, Formal Regulatory Remedies
A recent uptick in the three-month US dollar Libor appears to be an unintended consequence of soon to be effective SEC money market fund regulations. Approved in 2014, the regulations intended to make structural and operational reforms to address risks of investor...
by David Schwartz J.D. CPA | Apr 13, 2014 | All
U.S. District Court Judge Naomi Reice Buchwald has ruled against a group of plaintiffs seeking to use the Sherman Antitrust Act to punish rate-setting banks for manipulating LIBOR. Although some of the defendant banks on the London Interbank Offered Rate panel have...
by David Schwartz J.D. CPA | Nov 18, 2013 | All
On November 8, 2013, a three-judge panel of the UK Court of Appeals handed down a much awaited ruling in two LIBOR-related cases. The ruling allows plaintiffs in two cases involving interest rate swap transactions referencing LIBOR to amend their claims to allege that...
by David Schwartz J.D. CPA | Jan 19, 2013 | All, Formal Regulatory Remedies
The government has acted swiftly and is implementing Martin Wheatley’s recommendations as quickly as possible, introducing legislation that brings Libor within the scope of regulation and creating new criminal sanctions for attempted manipulation of Libor. Recent...
