Many months after the event, the Australian financial press has woken up to the fact that there was a financial scandal happening elsewhere. Worse still, it may also have happened here. The tabloid-like…
RBS joins the list of banks implicated in the ever-widening LIBOR scandal.
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In his recent interview with Oprah Winfrey, Lance Armstrong belatedly admitted to taking illicit drugs throughout his career. But in doing so, he also shed light on a corrupt culture within the sport involving…
Failures of compliance and culture have been attributed to the RBS’ misconduct in the LIBOR manipulation scandal.
AAP
The fallout from the London Interbank Offered Rate (LIBOR) scandal continues apace with the announcement on Wednesday that the Royal Bank of Scotland (RBS) had reached a $US612 million settlement with…
Re-run: if the US fiscal cliff has the same feel as last year’s debt ceiling crisis, we’re not surprised…
Different year, same crisis. Around this time last year, the United States was looking down the barrel of economic disaster with the debt ceiling. As we approach 2013, it peers over the fiscal cliff. That…
The UK’s LIBOR system was designed to be transparent but difficult to game: so what happened?
AAP
Imagine if we discovered that the monthly setting of the Reserve Bank of Australia’s cash rate was rigged. There would quite rightly be outrage. We trust the RBA Board to make these calls, month after…
As regulators finally move on the Libor scandal, are they asking themselves the right questions?
Welcome to the third and final part of Back to the Future. AS HSBC is fined US$1.9 billion for “egregious” money laundering and the first arrests are made in the Libor scandal, the need for the public…
The fining of Barclays after it was found to be manipulating the UK’s inter-bank lending rate illustrates the failure of regulators to grapple with corruption in global financial markets.
AAP
Welcome to the first of a three part series, Back to the Future, which explores the complicated reasons behind the continuing regulatory and judicial failure to regulate global financial markets. Professor…
The LIBOR scandal has given rise to a vexing question: just who is responsible for the “freewheeling casino” of financial capitalism?
higgott
Members of the British Treasury Select Committee, US congressional investigators, state attorney generals and class actions lawyers who are investigating just who knew what and when in the sprawling investigations…
Barclays’ manipulation of the LIBOR has raised questions about the Bank of England’s lack of regulatory oversight.
AAP
The United Kingdom has had a remarkably poor track record in prosecuting serious economic fraud. In part, this can be traced to deficiencies in the toolkit available to the Serious Fraud Office, a fact…
A Diamond in the rough: Former Barclays chief executive Bob Diamond bore the brunt of public anger over the LIBOR scandal. But attention should be paid to behaviour of regulatory authorities.
AAP
As the Deputy Governor of the Bank of England, Paul Tucker, prepares to give evidence to the Treasury Select Committee, he will be mindful of the insult thrown at Bob Diamond, the recently crestfallen…
Barclays - Britain’s largest investment bank - has been fined after it was revealed that the bank had manipulated the London Interbank Offered Rate to boost its trade of credit derivatives and bolster its financial reputation.
AAP
The sense of frustration and despair within the British government and regulatory agencies over the behaviour of Barclays in submitting patently false returns to the London Interbank Offered Rate (LIBOR…