The Financial Conduct Authority (FCA) announced today that 10 banks have provided evidence to the British regulator. The head of the agency said that the investigation is unlikely to be concluded this year, and that the FX benchmark allegations are "as bad as LIBOR".
BusinessWeek
The FCA also warned 2 individuals that they intend to charge them for misconduct related to the LIBOR rate manipulation. This is the first time that the FCA has issued such a warning since this power was granted to it in 2013. These unnamed individuals are likely not the same ones who will face criminal charges.
DealBook NY Times
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