The Financial Conduct Authority (FCA) has handed Deutsche Bank AG (Deutsche Bank) a £227 million ($340 million) fine, its largest ever for LIBOR and EURIBOR-related (collectively known as IBOR) misconduct. The fine is so large because Deutsche Bank also misled the regulator, which could have hampered its investigation. The investment bank misled the regulator, which […]
Read MoreDeutsche Bank Fined $2.5 Billion for LIBOR Manipulation
Deutsche Bank has been fined $2.5 billion total by U.S. and British regulators for alleged LIBOR misconduct. LIBOR is a benchmark rate that some of the world’s leading banks charge each other for short-term loans. The U.S. and Britain accused Deutsche Bank employees of manipulating their LIBOR submissions, colluding with other banks that sat on the panel that submitted […]
Read MoreUK’s Financial Conduct Authority Fines Rabobank £105 Million For Serious LIBOR-Related Misconduct
Date 29/10/2013 – The Financial Conduct Authority (FCA) has fined Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank) for serious, prolonged and widespread misconduct relating to the London Interbank Offered Rate (LIBOR). The £105 million fine is the third highest ever imposed by the FCA or its predecessor, the Financial Services Authority, and the fifth penalty for LIBOR-related […]
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