Thursday, December 6, 2012

Gas price fixing investigation sparked by bank trades

Guardian: One of the banks being investigated over the Libor lending rate scandal was behind some of the unusual deals that triggered a separate inquiry into suspected attempts to manipulate the wholesale gas price. US investment bank Citigroup has confirmed that traders in its London office made two of a series of six gas deals that prompted inquiries by the Financial Services Authority and the energy watchdog, Ofgem. The sales were made around the "window" in which so-called price reporting agencies set...

URL: http://www.guardian.co.uk/business/2012/dec/06/gas-price-fixing-investigation-citigroup

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