BRITISH BANKERS’ ASSOCIATIO N TO BE STRIPPED OF LIBOR REGULATION
September 1st, 2012 BY KEITH NUTHALL THE CEO designate of the incoming UK regulator for wholesale and retail financial services has announced that his organisation will take over regulation of the discredited LIBOR inter-bank lending rate from the British Bankers' Association (BBA). Martin Wheatley, who will head the Financial Conduct Authority (FCA) when it is launched next year, said his organisation was best placed to restore trust in this critical index. An external regulator for LIBOR now will be appointed by the outgoing Financial Services Authority (FSA) which will be partly ...
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