The EU Commission fines a broker for facilitating Yen Libor cartels by serving as communication channel and disseminating misleading information about expected rates (Icap)

European Commission Fines London-Based Broker ICAP 14.9 Million Euros For Facilitating Yen Libor Cartels* The European Commission (“EC”) has fined London-based ICAP, the world’s largest broker of interest-rate swaps, for facilitating bank cartels in the market for Yen-denominated interest rate derivatives. The EC already imposed heavy fines of 669 million euros on UBS, the Royal Bank of Scotland, Deutsche Bank, Citigroup and the British broker, RP Martin, in December 2013, after they

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James Ashe-Taylor, The EU Commission fines a broker for facilitating Yen Libor cartels by serving as communication channel and disseminating misleading information about expected rates (Icap), 4 February 2015, e-Competitions February 2015, Art. N° 71685

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