libor rate ubs charges

[al bebak]

why is it America gets too charge, fine and keep the money when hitting banks for various offences.
im not suggesting they shouldn't be charged with crimes or fined with out of court agreements but who give America the license to do this, and why are we not doing the same.


al.

[BOR]

Our FSA is one old man and a toothless dog and the Conservative Party receives 50% of its funding from bankscum.

Bought and paid for.

[al bebak]

BOR said:

Our FSA is one old man and a toothless dog and the Conservative Party receives 50% of its funding from bankscum.

Bought and paid for.

similar to the unions funding labour then.

Doogs said:

http://uk.reuters.com/article/2012/12/19/uk-ubs-li...

that suggests we do the same but we dont seem to hear/read as much of our actions compared to the yanks.

[fido]

al bebak said:

who give America the license to do this, and why are we not doing the same.

America. We're not a global power anymore - we can demand fines or extradition but it's likely to get ignored whereas if the US ... heck, we can't even enforce the Congestion Charge.

[Ozzie Osmond]

fido said:

We're not a global power anymore - we can demand fines or extradition but it's likely to get ignored whereas if the US ... heck, we can't even enforce the Congestion Charge.

^^^ Nicely put.

[al bebak]

thanks guys,
it is pretty much as i half suspected, ie we have no clout.
maybe if we asked nicely the yanks might throw us a few crumbs.

al.

[loafer123]

Er...the FSA did get a share of the fine...over £150m if I recall.

[anonymous-user]

loafer123 said:

Er...the FSA did get a share of the fine...over £150m if I recall.

Fines are now taken by HM Treasury from FSA. Previously FSA would keep the fine to help pay its running costs and reduce the following years fees to all other institutions, HMT saw a decent revenue stream and took it instead.

In the main the FSA dont have the resources to be able to track massive amounts of trades and data in the way the US can, and when any investigation involves USD, the US authorities basically take over and lead.





edited for spelling

Edited by djstevec on Thursday 20th December 13:10

[anonymous-user]

loafer123 said:

Er...the FSA did get a share of the fine...over £150m if I recall.

160
http://www.fsa.gov.uk/static/pubs/final/ubs.pdf