The British Parliament will be fully investigating the scandal of the Libor
The survey undertaken jointly by the British upper and lower houses will be announced before the end of this year’s report, the Chairman of the House of Commons Treasury Committee (the Commons Treasury select committee), Andrew Terry (Andrew Tyrie, Conservative) will serve as the survey The person in charge.ルイヴィトン モノグラムイディール ジッピーコイン パース M63004 財布
The Committee will join some of the proposals submitted by an Act of Parliament in January next year to reflect the recommendations of Sir John • Vickers (Sir John Vickers). The Vickers Jazz had previously presided over the investigation of a banking sector regulatory model.
Terry’s Committee will question Barclays Bank (Barclays) on Wednesday, Chief Executive Officer Bob Diamond Bob Diamond. The committee will also to reform the City of London (the City of London) supervision of the Financial Services Act to provide information as a implementation of the bill is scheduled to be promulgated before the end of this year.
Cameron said late Monday, the British Chancellor of the Exchequer George Osborne (George Osborne) will explain the full details of the parliamentary inquiry. The survey will study the Libor scandal after the banking regulatory issues. However, Cameron made it clear that the investigation will not be a “Lai Weisen-style” (Leveson-style), by a judge-led investigation.
Osborne will be the House of Commons, the Libor fixing case to a full judicial investigation is a waste of time and a waste of money. Bank of England (BoE) governor Mervyn • Gold (Mervyn King) and the British Business Secretary Vince • Cable (Vince Cable) opposed Lai Weisen-style investigation.
But Osborne is under pressure from the opposition Labor Party, the latter asked him to specification commence a survey of the industry of the City of London. In addition, Osborne’s commitment to assess the professional conduct of banks, may be difficult to make the Labor Party leader Ed Miliband (Ed Miliband) satisfaction.
Miliband’s spokesman said: “We believe that the response to the line of banking and financial services regulation, governance, ethics, and effective supervision to commence a comprehensive, open and independent investigation.”
Osborne will also report on the investigation of a range related to the the Libor mode of operation of the smaller details, and proposed to impose criminal sanctions on those who try to manipulate Libor. Libor is seen as one of the benchmark market interest rates.
The British Serious Fraud Office (Serious Fraud Office) confirmed on Monday that it “is considering the (suspected of trying to manipulate Libor Barclays employees) filed criminal charges against the appropriateness and feasibility of”. The office will make a decision within one month.
Currently, the U.S. Department of Justice (Department of Justice) has launched a criminal investigation, the Barclays opened a ticket UK Financial Services Authority (FSA) believes that no power to interest rate manipulation for a criminal investigation.
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