Former Treasury Select Committee chair calls for re-examination of LIBOR scandal

Letter to The Times

Elliot Gulliver-Needham
clock • 1 min read

A letter to The Times from various political figures, including a former chair of the Treasury Select Committee, has claimed that evidence was withheld from parliament over the LIBOR rigging scandal, which saw nine traders receive prison sentences.

The letter, which claimed the actions of jailed traders was "normal practice", was signed by former TSC chair Andrew Tyrie, former Brexit secretary David Davis and ex-shadow chancellor John McDonnell, among others. Tyrie, also the former chair of the Competition and Markets Authority, wrote that "crucial evidence was withheld from the Treasury committee's 2012 inquiry into LIBOR", and argued  parliament's attempt to uncover the truth was "thwarted". Synthetic US dollar LIBOR to cease in September 2024 The letter also said the conduct of the jailed traders was "dwarfed in seriou...

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