FCA confirms synthetic Libor rates to avoid disruption ahead of year-end wind down
Watchdog says it is not ‘practicable’ to convert all outstanding sterling and Japanese yen contracts by end of 2021
Watchdog says it is not ‘practicable’ to convert all outstanding sterling and Japanese yen contracts by end of 2021
At the end of last year 70% of managers had reduced exposure to Libor
Libor administrator among firms where executives will now face a higher degree of accountability
A former RBS trader accused of manipulating a Libor rate has hit back at regulators claiming he has been used as a scapegoat for what is a “systemic” issue.
A former RBS trader has been banned from working in finance and fined £250,000 by the Financial Conduct Authority (FCA) for his role in the Libor rigging scandal.
In an effort to take advantage of the growing trend toward more specific outcome-led investments Twenty Four Asset Management is set to launch a new Outcome 250 fund for Chris Bowie, who recently joined the group from Ignis.
The European Commission has fined a group of eight financial institutions a total of 1.7bn (£1.4bn), for forming illegal cartels to rig interest rates.
Former RP Martin Holdings brokers Terry Farr and James Gilmour have been charged with conspiracy to defraud in connection with the ongoing Libor investigation.
The Serious Fraud Office (SFO) has requested a High Court judge hears the case of Tom Hayes, the former UBS trader who was charged last month with conspiracy to rig the yen Libor rate, as a result of the complexity and seriousness of the charge.
Tom Hayes, a former UBS and Citigroup trader, will appear before Westminster Magistrates on Thursday charged with eight counts of conspiracy to defraud in relation to Libor-rigging.
London could be stripped of its oversight of interbank lending rate Libor if Brussels succeeds in passing a law to bring it under control of the Paris-based European Markets and Securities Authority (Esma).
RBS has drafted in former FSA managing director of supervision Jon Pain in a bid to salvage its reputation following a series of high profile transgressions including Libor fixing and misselling of PPI.