Search Results for: LIBOR scandal
Barclays’ bosses warn investors of pain ahead as Libor scandal fines and legal bills roll in
April 24th, 2015
Huge fines and legal bills are on the way, Barclays’ outgoing chairman Sir David Walker warned shareholders at yesterday’s annual general meeting. Walker joined the bank almost three years ago in the wake of the Libor scandal, aiming to ...
Deutsche Bank to Pay $220 Million over Libor interest rate manipulation
October 26th, 2017
Deutsche Bank AG agreed to pay 45 U.S. states a combined $220 million to resolve a probe into interest-rate manipulation, more than twice the amount of Barclays Plc’s settlement last year. The states’ investigation found that the German bank’s ...
The Libor trials: Where we are now
April 12th, 2017
Barclays sent shockwaves through the City when, in July 2012, it was fined nearly £300m by British and US regulators for its role in the Libor-rigging scandal. Days later, then chief executive Bob Diamond handed in his notice. The ...
Libor trader sues FCA over lifetime ban
February 23rd, 2017
Former UBS trader Tom Hayes is to sue the Financial Conduct Authority over the lifetime ban it placed on him after he was jailed for 11 years over his role in the Libor-rigging scandal. Hayes was the first to ...
Ex-Barclays traders jailed over Libor rigging
July 8th, 2016
A London court has sentenced four former Barclays traders to prison. They were found guilty of Libor manipulation between 2005 and 2007. Jay Merchant received six-and-a-half years in prison, Jonathan Mathew and Peter Johnson were each jailed for four ...
Ex-Rabobank trader to plead guilty in U.S. Libor case
July 7th, 2016
A former Rabobank trader from Australia will plead guilty on Thursday to U.S. charges that he conspired in a huge scandal to manipulate Libor, the leading benchmark for pricing financial transactions, his lawyer said. The expected plea by Paul ...
German Regulator to Publish Deutsche Bank Libor Report in January ‘At the Earliest’
December 14th, 2015
Germany’s financial markets regulator, BaFin, is likely to publish its final report about its findings over the key reference rate Libor manipulation scandal at the beginning of January at the earliest, according to two people with knowledge of the matter. Accusations ...
VW scandal: what the emissions revelations mean
September 23rd, 2015
The carmaker’s rigging of emissions data in the US could have serious repercussions around the world – and not just for Volkswagen What has Volkswagen done? The US Environmental Protection Agency (EPA) said on Friday that Volkswagen had installed illegal ...
Serious Fraud Office interviews Deutsche Bank traders as it steps up criminal probe into Libor rigging
August 27th, 2015
The Serious Fraud Office has interviewed present and former Deutsche Bank traders as it steps up its criminal probe into the manipulation of Libor interest rates. At least one banker is thought to have been interviewed under caution, meaning ...
The Aftermath of LIBOR and Penny-Shaving Attacks
August 12th, 2015
Anyone remember the LIBOR scandal from back in spring 2008? A trader for UBS Group and Citigroup named Tom Hayes was just sentenced by a British court to 14 years imprisonment for his role as a ringleader of the scandal. Darrell Duffie and Jeremy C. ...
