IAP ICAP

LONDON--Interdealer broker ICAP PLC said Tuesday that the European Commission has accused it of helping banks manipulate the yen Libor benchmark interest rate.

The company said it received a statement of objections from the commission "alleging that ICAP acted as a facilitator to breaches of EU competition law by certain banks in relation to Yen Libor for isolated periods between 2007 and 2010."

ICAP said the allegations relate to the same matters it paid $87 million to settle last year with U.K.'s Financial Conduct Authority and the U.S. Commodity Futures Trading Commission.

"ICAP does not believe that it has breached any applicable EU competition law, and will defend itself against these allegations vigorously," it said.

Write to Rory Gallivan at rory.gallivan@wsj.com

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