The UCL Centre for Law, Economics and Society invites you to
Libor, Screening and Reform
Dr Rosa Abrantes-Metz (Principal, Global Economics Group; and Adjunct Professor, Stern School of Business, New York University)
on Thursday 21 February 2013
from 6 - 7pm
18:00 Talk starts
19:15 Event ends
Accredited with 1 CPD hours by the SRA (BSB accreditation pending)
About the event:
Investigations into a conspiracy to manipulate the U.S. dollar London Interbank Offered Rate (“LIBOR”) and other comparable benchmarks have been launched worldwide. Some of the banks involved have already settled with authorities for record amounts. The LIBOR scandal is potentially the most significant financial manipulation in history, and it was first publicly flagged by simple, but powerful, statistical analyses known as screens. While LIBOR is the most significant success of these techniques, it is not the first, nor will it be the last. This presentation will review the principles of screens, how they worked for LIBOR as early as 2008, and how should LIBOR be reformed.
Dr. Rosa M. Abrantes-Metz is a principal in the antitrust, securities and financial regulation practices of Global Economics Group based in New York. Her experience includes work in consulting and banking, as well as in government. She is an adjunct associate professor at Leonard N. Stern School of Business, New York University, where she teaches money and banking, financial institutions, industrial economics and econometrics. Dr. Abrantes-Metz is the author of several articles on econometric methods and screens, antitrust and finance. She has published in peer-reviewed journals and trade publications and contributed to books on conspiracies and manipulations, valuation, corporate governance and compliance. Dr. Abrantes-Metz has developed numerous empirical screens for conspiracies and manipulations, and is a pioneer in the field, contributing to the further development and increased adoption of these methods. She has flagged potential anticompetitive behavior triggering subsequent large scale investigations, such as the LIBOR conspiracy and manipulation; and she has also used these methods to defend against allegations of illegal behavior. Her screens are used by competition authorities, defendants and plaintiffs worldwide. Dr. Abrantes-Metz’s work is regularly featured in the media including television, radio, newspapers and magazines.