Post by account_disabled on Mar 6, 2024 5:31:45 GMT
The United States Court is studying the possibility of criminalizing cases of interest rate manipulation involving entities and employees in the country, which would imply a new level of investigation and punishment for infractions committed by entities and employees linked to the financial market. The information is from Jornal do Brasil .
The disclosure comes amid the process of financial giant Barclays, which was fined by US and UK regulators million pounds — approximately R$ million — for having modified, between and , the Libor and Euribor rates, which regulate interest charged in the United Kingdom and Europe. Libor and Euribor are responsible for influencing both interbank operations and interest rates for individuals.
The process for which Barclays ended up being fined is BTC Number Data civil in nature, but, when added to the criminal ones (under study), it could represent a cost of tens of billions of dollars to the banking industry and in sentences that include prison.
According to undisclosed sources interviewed by the New York Times, the complexity involved in a criminal investigation of global banks could result in agreements — through payment of fines — before accusations lead to convictions. The estimate, in any case, is that at least one banking entity will be sued this year.
Among the possible targets of justice are employees of Barclays. Judicially, the newspaper mentions, American justice could judge Barclays, a London bank, for exerting influence over the United States.
Another suggestion, still within the scope of public revenue, is the stability of norms, in order to increase legal certainty — for this, a normative act will not even be necessary, with a public proclamation being sufficient, the kind that no one questions. Declare that there will be no increase in federal taxes until the end of your term. This is enough to give greater predictability to private businesses, which will then allow for a higher level of investment. The threat of an increase in itself generates uncertainty and, with it, legal instability that is reflected in the price level practiced in the economy.
I could expand even further on the list of issues that exist on the payroll — I will not talk about FGTS or proportional notice; These are workers’ guarantees. I'm talking about the charges that apply to the Social Security Payment Guide — ask to see one of them and see what I'm talking about. The list of contributions hanging on it is enormous and the money is not always used for the benefit of the worker, but it burdens companies.
The disclosure comes amid the process of financial giant Barclays, which was fined by US and UK regulators million pounds — approximately R$ million — for having modified, between and , the Libor and Euribor rates, which regulate interest charged in the United Kingdom and Europe. Libor and Euribor are responsible for influencing both interbank operations and interest rates for individuals.
The process for which Barclays ended up being fined is BTC Number Data civil in nature, but, when added to the criminal ones (under study), it could represent a cost of tens of billions of dollars to the banking industry and in sentences that include prison.
According to undisclosed sources interviewed by the New York Times, the complexity involved in a criminal investigation of global banks could result in agreements — through payment of fines — before accusations lead to convictions. The estimate, in any case, is that at least one banking entity will be sued this year.
Among the possible targets of justice are employees of Barclays. Judicially, the newspaper mentions, American justice could judge Barclays, a London bank, for exerting influence over the United States.
Another suggestion, still within the scope of public revenue, is the stability of norms, in order to increase legal certainty — for this, a normative act will not even be necessary, with a public proclamation being sufficient, the kind that no one questions. Declare that there will be no increase in federal taxes until the end of your term. This is enough to give greater predictability to private businesses, which will then allow for a higher level of investment. The threat of an increase in itself generates uncertainty and, with it, legal instability that is reflected in the price level practiced in the economy.
I could expand even further on the list of issues that exist on the payroll — I will not talk about FGTS or proportional notice; These are workers’ guarantees. I'm talking about the charges that apply to the Social Security Payment Guide — ask to see one of them and see what I'm talking about. The list of contributions hanging on it is enormous and the money is not always used for the benefit of the worker, but it burdens companies.