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Where have all the Libor fines gone?

Since regulators have issued £££ millions of fines to our guilty libor traders I have struggled to find where these monies finish up ?

                     The reason behind this quandary is simple  ; because FSA 2012 budget was only £126 million  , i was hoping the majority of these fines would of been released back to the regulator to catch more "abusers ". Sadly it appears not and the monies have found their way into the treasury !   Can some one please explain why ?

      The question of cost is important as HFT and colocation is fuelled on speed and therefore cost and part of the reason why punishments are so slow being delivered are because are regulators are chasing "cheetahs "   in outdated cars .

Perhaps if the "manipulators " could see the regulators in their wing mirrors they might think twice about cheating  ; currently they are not even on the same road!

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Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 14 March, 2013, 15:07Be the first to give this comment the thumbs up 0 likes

Good point. Not sure whether such a practice is still in vogue but, once upon a time, the customs department in India got to keep a certain percentage of the value of the smuggled goods they confiscated at airports and harbors, with the inspectors involved in the seizure getting cash awards for their personal contribution.