UK to extend Libor manipulation laws to cover gold, oil, silver
By GCRU Gold News on Monday, December 22 2014, 22:11 - Permalink
Britain will widen the scope of laws which make the manipulation of market benchmarks a criminal offense to include seven more rates covering the currency, gold, oil and silver markets by April 1, the government said on Monday.
The Chancellor George Osborne today (22 December 2014) confirmed that the government will extend the legislation originally put in place to regulate LIBOR to cover seven further financial benchmarks, including the main foreign exchange benchmark, with those found guilty of manipulating these benchmarks facing up to seven years in prison.
London Gold Fixing and the LMBA Silver Price, which determine the price of gold and silver in the London market