HSBC, Barclays Confirm Libor Manipulation Probe

Law360, New York (August 2, 2011, 8:37 PM EDT) -- HSBC Holdings PLC and Barclays PLC said Monday that they were cooperating with regulators in an investigation of claims that a group of banks manipulated the London Interbank Offered Rate.

HSBC told shareholders in its 2011 interim results filing with the U.S. Securities and Exchange Commission that it received requests from U.S., U.K. and European agencies for information regarding its submissions to the British Bankers' Associations, which sets the Libor.

Barclays said in its interim results filing that the regulators were investigating it for submissions the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.