Former RBS and UBS traders slammed in Libor cases

Two ex-traders punished by the FCA following Libor scandal

Lady justice
Cost of rigging: six banks have paid out settlements to regulators totalling about $6.5 billion

In 2012, the industry was hit by scandals involving traders at global banks who tried to manipulate the London Interbank Offered Rate (Libor) during the financial crisis. Since then, six banks have admitted to rigging Libor and have paid out settlements to regulators amounting to about $6.5 billion.

Last week, the Financial Conduct Authority (FCA) banned a former RBS trader from working in the financial industry for submitting false Libor rates to brokers both inside and outside the bank.

Betwee

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: