European lawmakers to question regulators over Libor
Source: Reuters
(Reuters) - Some of the world's top financial regulators will answer questions in the European Parliament on Monday about market manipulation such as the rigging of benchmark interest rate Libor.
The scandal over fixing the rate used as a reference for financial transactions worth more than $350 trillion (215.8 trillion pounds) globally has led to a fine for Britain's Barclays (BARC.L) and prompted an antitrust investigation by the European Commission as well as a pledge to criminalise the fixing of such indexes.
Michel Barnier, the European commissioner in charge of regulation, and Joaquin Almunia, the EU's antitrust chief, will face questions from the parliament's influential economic and monetary affairs committee from 1300 GMT (2:00 p.m. British time) on Monday.
Gary Gensler, the chairman of the U.S. Commodity Futures Trading Commission, will testify by videoconference. Masamichi Kono, chairman of the International Organisation of Securities Commissions will also attend.
Read more: http://uk.reuters.com/article/2012/09/24/uk-eu-libor-idUKBRE88N0BM20120924
