Act Quote by Emily Thornberry
“The Fraud Act 2006 makes it perfectly clear that Libor rigging is prosecutable as a criminal offence.”
About This Quote
The law explicitly criminalizes manipulation of benchmark interest rates, making such conduct prosecutable.
In simple terms: Legal prohibition of rate rigging
Libor manipulation is a crime
Themes
Mood
Type
When to use this quote
- bank compliance audits
- regulatory investigations
- court proceedings
Key Concepts
Practical Applications
- enforcing market integrity
- deterring fraud
Questions to Reflect On
- How does criminal law deter financial misconduct?
- What are the broader impacts of punishing rate rigging?