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Libor-riggers face higher fines under draft EU rules

By Sebastian Chrispin ( September 12, 2013, 14:59 GMT | Insight) -- Financial firms and traders caught manipulating the London Interbank Offered Rate and other important benchmarks might face maximum fines of three times the value of any profit made, or loss avoided, under European Commission plans seen by MLex. The proposal would increase the largest penalties from twice the value of any gain or forestalled loss, as proposed in an earlier version of the draft law.Financial firms and traders caught manipulating the London Interbank Offered Rate and other important benchmarks might face maximum fines of three times the value of any profit made, or loss avoided, under European Commission plans seen by MLex....

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