RBS Libor fine confirms CFTC intent to police global markets

CFTC extends its policing of markets outside the US

The recent fine against Royal Bank of Scotland (RBS) for Libor manipulation underscores the extraterritorial reach of the US Commodity Futures Trading Commission (CFTC). “What we have seen happening the last couple of years is reflected in the earlier Libor settlements and some other things the CFTC has done and that is extending its reach across the Atlantic to aggressively regulate and police market integrity even if the market conduct and the things that are at issue are not going on