Daily Archives: July 11, 2015

Sen. Bill Would Allow Feds To Jail Deceptive Auto Execs

Law360:

Law360, New York (July 10, 2015, 9:14 PM ET) — Three Democratic senators proposed legislation Thursday that would allow the federal government to jail automotive executives for up to five years if they knowingly conceal the risk of injury or death from defects in automobiles.

The Motor Vehicle Safety Act of 2015, proposed by Sens. Bill Nelson, D-Fla., Richard Blumenthal, D-Conn., and Ed Markey, D-Mass., would also eliminate the cap of $35 million in civil fines levied against automakers for safety violations.

DOJ investigates ex-Deutsche Bank traders over Libor: Bloomberg

4traders:

(Reuters) – U.S. Department of Justice prosecutors are investigating former Deutsche Bank AG traders in connection with their participation in the interest rate-rigging scandal and could bring charges this year, Bloomberg reported, citing two people with knowledge of the situation.

At least five former traders are under investigation for their role in rigging the U.S. dollar version of the interest-rate benchmark, Bloomberg said. (http://bloom.bg/1GbJRIZ)

These would be the first charges against Deutsche Bank traders in connection with the London interbank offered rate, or Libor, Bloomberg said.