2 Bankers Face 1st Civil Penalties In UK Libor Probe

Law360, New York (February 3, 2014, 8:14 PM EST) -- The U.K. Financial Conduct Authority on Monday released warning notices issued to two bankers who could face penalties for their alleged involvement in the manipulation of the London Interbank Offered Rate and other benchmark interest rates, marking the first civil cases against individuals in the global probe. 

The FCA did not name the people targeted but said that the bank manager and rate submitter face possible fines or bans from working in the finance industry. The warning notices, which were issued Nov. 28 but published Monday,...
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