Cos. to face new penalties for manipulating financial benchmarks

Competition & Consumer Protection 2018-03-29 8:57 am By Cat Fredenburgh | Melbourne

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Companies that manipulate financial benchmarks will face specific civil and criminal penalties under changes to the law made by the government today, in the wake of $100 million in settlements by two of Australia’s largest banks last year over claims they manipulated the bank bill swap reference rate.

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