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serious frauds office to investigate libor July 6, 2012

Posted by Bradley in : financial regulation , trackback

Here is the SFO press release. Here is the link to yesterday’s House of Commons debate on professional standards in banking. Reading the debate isn’t very edifying. Much more attention seems to be focused on finding ways to blame the last government for failures in regulation than on how to regulate better for the future. And it is mind-blowing to see the Chancellor blaming what has happened on failures of regulation when before the financial crisis Conservatives were even more vocal than the last Labour Government about how regulation shouldn’t interfere with the ability of UK banks and the City to compete with banks based in other jurisdictions and other financial centres.

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