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<p>The Government is committed to taking action to ensure that the criminal regime
for financial market abuse is strong and robust. In September 2014 the Government
consulted on whether the regulatory regime put in place for LIBOR should be extended
to seven other major benchmarks, based on recommendations from the Fair and Effective
Markets Review. This regime includes the criminal offence of manipulating a ‘relevant
benchmark’ either by making misleading statements or by creating a false or misleading
impression of the value of investments that could affect such a benchmark. The list
of benchmarks included the dominant benchmark for the foreign exchange market, WM/Reuters
4pm London Closing Spot Rate. The Government will announce its response to this consultation
shortly.</p><p> </p><p> </p><p> </p>
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