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Thursday, 09 February 2012
LIBOR Probe Suspensions
A probe into the manipulation of LIBOR rates is accelerating as employees are suspended or fired.
US, UK and Japanese regulators have been investigating banks and their conduct in connection with suspicions that banks colluded to fix the rates.
It is understood that this investigation has been extended into the hedge fund and broking community.
The Financial Times reports that staff from JP Morgan, Royal Bank of Scotland and Citigroup may have been suspended. It is also understood that an employee from ICAP has been fired and three staff placed on administrative leave.
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