9th Sep 2013 13:00
LONDON (Alliance News) - ICAP, the interdealer broker headed by a former Conservative Party treasurer, is in talks about a settlement over its role in the global Libor rate-rigging scandal that would involve it paying about GBP70 million to regulators in London and New York, Sky News City Editor Mark Kleinman reported Monday.
Kleinman wrote that ICAP is in talks with the Financial Conduct Authority that could see it pay about GBP20 million to the UK regulator, while it would pay about GBP50 million to the US Department of Justive and the Commodity Futures Trading Commission in the US.
Official news on the matter is expected by the end of the month, with Kleinman quoting one person who said ICAP is closer to a deal with the FCA than with US regulators.
http://news.sky.com/story/1139274/city-broker-icap-braced-for-70m-libor-deal
By Samuel Agini; [email protected]; @samuelagini
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