Bank Manager, Submitter Face Fines in U.K. Libor Probe
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The U.K. markets regulator notified a bank manager and a rate submitter that they face penalties for their involvement in manipulating benchmark rates in the first civil cases against individuals in the global probe.
The Financial Conduct Authority issued two so-called warning notices against the people today, which may lead to fines or bans from working in the finance industry. The London-based regulator didn’t name the people or banks involved.