ABSTRACT
This chapter focuses on the effectiveness of imposing criminal liability on corporations for attempted the London Inter Bank Offered Rate (LIBOR) manipulation. Having outlined the nature of LIBOR, it suggests that the acknowledged flaws of criminalising corporate activity impinge directly on the effectiveness of criminal law to address LIBOR concerns. The chapter argues that changes are required to make it easier to make corporations liable for LIBOR manipulation within criminal law. Otherwise, it is also argues, all that may be achieved is individual criminal sanctions for past activity, facilitating the view that LIBOR manipulation was the act of a handful of 'rotten apples'. This would serve to diminish the ability of the criminal law to deter such behaviour through incentivising cultural reform at the corporate level. The chapter examines that corporate criminal liability for attempted LIBOR rigging is necessary to effect change at the corporate level, however, imposing corporate liability for criminal acts is far from straightforward.
