Rabobank fined $1 billion for Libor failings
Dutch bank the latest to pay for benchmark manipulation
Rabobank has been fined £105 million ($168 million) by the UK Financial Conduct Authority (FCA) for serious Libor-related misconduct. In the latest fine relating to the benchmark manipulation scandal, Rabobank has been accused of having poor internal controls that encouraged collusion between traders and Libor submitters. The bank is also accused of allowing systematic attempts at benchmark manipulation in what the FCA describes as serious, prolonged and widespread misconduct relating to Libor.
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