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Rampant Financial Crime In City Of London Eroding Public Trust - Boe

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A top Bank of England (BoE) official warns widespread financial crime in the City of London is eroding public trust. The BoE’s criticism surfaced as it launched a review to tackle market manipulation.

In her first public address since adopting the position of BoE Deputy Governor, Nemet Minouche Shafik denounced the actions of UK traders in foreign exchange, currencies and bonds markets, warning financial misconduct in these sectors goes well beyond a few rogue financiers.

Referencing LIBOR riggers’ behavior as unacceptable, she suggested fines for such fraudulent activity were inadequate and signified “salt rubbed into the wounds to public confidence in financial markets.” [More at link]


http://rt.com/uk/200235-financial-crime-public-confidence/

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...denounced the actions of UK traders in foreign exchange, currencies and bonds markets,..

and the rest. Virtually every aspect is bent - including the BoE.

Edited by billybong

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