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Libor rate rigging is a dangerous externality of the increasing interconnectedness of global markets. Its effects have transcended national boundaries and permeated through the domestic socioeconomic stratum. And it is, unfortunately, not a singular threat: Libor and its companion reference rates have revealed the subtle holes in the Commodity Futures Trading Commission’s current enforcement toolbox. This Note encourages clarification of the domestic defenses available to financial regulators to combat the rate rigging of benchmark reference rates in the global financial markets.


This article was awarded the Cornell Law Library Prize for Exemplary Student Research in 2013. It has since been published in Cornell Law Review, vol. 98, no. 5 (July 2013).