U.K. Party Demands Economic-Crime Law

Libor prompts Labour Party to introduce law to prevent future financial scandals.

The U.K.’s opposition Labour Party demanded the introduction of a new economic-crime law to help prevent future financial scandals such as the manipulation of the Libor benchmark.

The party’s home-affairs spokeswoman, Yvette Cooper, told the party’s annual conference in Manchester, northern England, today that the law would provide clarity for the police and prosecutors and determine which agencies should tackle financial fraud.

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