Libor Traders Are Said to Avoid Charges in U.K. Probe -Bloomberg

Date : 06/13/2012 @ 6:16PM
Source : Dow Jones News
Stock : Royal Bank of Scotland Grp. Plc New (The) Ads (RBS)
Quote : 6.72  -0.16 (-2.33%) @ 6:03PM

Libor Traders Are Said to Avoid Charges in U.K. Probe -Bloomberg

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Traders suspected of manipulating the London interbank offered rate, or Libor, are unlikely to face criminal charges in a U.K. regulatory probe, Bloomberg News reported Wednesday, citing people with knowledge of the matter.

The banks that employed the traders, however, could face record fines, according to the report. Royal Bank of Scotland Group PLC (RBS.LN), UBS AG (UBS), Deutsche Bank AG (DBK.XE), and Citigroup Inc. (C) are among the institutions being investigated by regulators worldwide.

U.S. Securities and Exchange Commission and Commodities Futures Trade Commission officials have been present at some interviews the U.K. Financial Services Authority are holding with traders, Bloomberg reported, citing sources.

Spokesmen for the FSA, CFTC and SEC declined to comment, Bloomberg reported.

Full story at http://www.bloomberg.com/news/2012-06-13/libor-traders-said-to-avoid-charges-in-british-probe.html

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