Broker ICAP Reaches $87M Settlement In Libor Probe

Law360, New York (September 25, 2013, 9:12 AM EDT) -- ICAP PLC on Wednesday struck a $87.4 million settlement with U.S. and U.K. civil regulators over its alleged role in a global interest rate rigging scandal, as prosecutors in the U.S. Department of Justice launched criminal charges against three former employees of the brokerage firm.

London-based ICAP reached the civil settlement with the U.S. Commodity Futures Trading Commission and U.K. Financial Conduct Authority. The brokerage firm becomes the fourth company to settle allegations it participated in a scheme to manipulate the London interbank offered rate, or...
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