UK, EU To Widen Probe Into Alleged Rate Rigging By Banks

Law360, New York (July 2, 2012, 7:48 PM EDT) -- U.K. and European Union regulators on Monday said they were ratcheting up probes into allegations of price fixing in two key interbank interest rates, with top-ranking British officials increasing their calls for criminal prosecutions to come out of the scandal.

In the wake of Barclays PLC agreeing to pay over $450 million in fines last week to settle rate-rigging allegations, U.K. Chancellor of the Exchequer George Osborne told Parliament on Monday that other banks were under investigation over similar claims that they engaged in fixing Libor...
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