This petition was submitted during the 2010-2015 parliament
Rejected petition Public Enquiry into the Involvement of the Financial Services Authority into the LIBOR Scandal
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The Financial Services Authority's involvement in the LIBOR rate fixing scandal needs to be investigated. A full Public Enquiry is needed.
The FSA purports to be above reproach but it failed to identify the banking crisis and almost certainly was complicit with the Bank of England in allowing Barclays Bank and other banks to indulge in fixing LIBOR (London Inter Bank Offered Rate) to minimise damage to the UK banking system and therefore the focus of attention on the failure of the FSA to correctly regulate the UK banking system.
The FSA has used scapegoats previously to excuse their lack of attention to the banking system. The FSA's dilatory performance and complicit behaviour in the LIBOR scandal needs to be investigated and senior staff within the FSA involved in the scandal need to be identified and held accountable.
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