U.K. Regulator Weighs Criminal Probe Into Oil-Price Fixing
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A second U.K. agency said it’s considering a criminal probe into oil-price manipulation as European Union officials conduct a civil investigation into industry benchmarks.
The Office of Fair Trading is liaising with U.K. agencies including the Serious Fraud Office and Financial Conduct Authority “to establish whether there is sufficient available evidence to warrant a criminal investigation, and if so who is best placed to take action,” it said in a statement today. Prosecutors at the SFO said in May that they were “urgently reviewing,” whether to start a criminal inquiry.