LONDON--U.S. and U.K regulators on Wednesday fined interdealer
broker ICAP PLC (IAP.LN) a total of $87 million to resolve their
investigations into the brokerage firm's alleged role in the
manipulation of benchmark interest rates, and said the U.S.
Department of Justice hasn't taken any action against ICAP Europe,
or the Group to date.
ICAP agreed to pay the U.K.'s Financial Conduct Authority GBP14
million ($22.42 million) and the U.S. Commodity Futures Trading
Commission $65 million, making it the fourth major financial
institution to settle allegations that its employees were involved
in trying to rig the London interbank offered rate, or Libor, and
other benchmarks that underpin interest rates on trillions of
dollars of loans and financial contracts. Barclays PLC (BCS,
BARC.LN), UBS AG (UBSN.VX, UBS) and Royal Bank of Scotland Group
PLC (RBS.LN, RBS) have agreed to pay a total of roughly $2.5
billion to settle such charges since last summer.
Shares at 1235 GMT down 1 pence, or 0.18%, at 395 pence valuing
the company at GBP2.56 billion.
-Write to David Enrich at david.enrich@wsj.com, David Barrett at
david.barrett@wsj.com and Jean Eaglesham at
jean.eaglesham@wsj.com.
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