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UK Lawmakers To Take Evidence From Ex-Barclays Executive, FSA

Date : 07/11/2012 @ 7:26AM
Source : Dow Jones News
Stock : Barclays (BARC)
Quote : 255.35  0.0 (0.00%) @ 12:00AM
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UK Lawmakers To Take Evidence From Ex-Barclays Executive, FSA

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LONDON--U.K. lawmakers investigating an interest rate-fixing scandal will July 16 take evidence from senior officials at the Financial Services Authority and a former Barclays PLC (BARC.LN) executive, the Treasury Select Committee said in a statement.

FSA Chairman Adair Turner; Andrew Bailey, head of the regulator's prudential business unit; and Tracey McDermott, acting director of enforcement, will be questioned on issues relating to the settlement by Barclays of roughly $450 million for claims it rigged the London interbank Offered Rate, or Libor, a key interest rate used as a benchmark for other loans.

Jerry del Missier, who resigned as chief operating officer at Barclays earlier this month alongside former Chief Executive Officer Bob Diamond will also give evidence, the committee said.

Write to Jason Douglas at jason.douglas@dowjones.com

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