Canada Competition Bureau Drops Its Libor Investigation

Law360, Los Angeles (January 3, 2014, 8:57 PM EST) -- Canada's Competition Bureau is ceasing its investigation of alleged collusive conduct into the setting of London Interbank Offered Rate and its use in pricing interest rate derivative products, the bureau announced Friday, citing insufficient evidence to pursue criminal charges.

The Canadian antitrust watchdog began its probe in early 2011 and used court orders to obtain extensive evidence from numerous parties. It then conducted an exhaustive review of the information obtained during the investigation to determine whether a violation of the criminal conspiracy provision in section 45...
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