UK to extend LIBOR rules to Brent oil benchmark

摘要

London-The UK is to extend legislation originally related to the LIBOR interest rate market to cover seven other financial benchmarks, including oil, gold and silver, with those found guilty of manipulating those benchmarks facing up to seven years in prison. In a statement Monday, the government said it would extend the legislation covering LIBOR to seven major benchmarks, including the ICE Brent index, which it said “acts as the crude oil market’s principal financial benchmark.”