Tuesday, May 26, 2015

Libor Manipulation: a first trader on the dock – euronews

Opening Tuesday the trial of Tom Hayes, former trader star of UBS and Citigroup for alleged market manipulation of Libor interest rates. The former trader in derivatives on the yen with eight counts must attempt charge of fraud that imputes to him the British Serious Fraud Office for the period from 2006 to 2010.
This trial follows several investigations launched worldwide on an alleged manipulation of the Libor is the reference numerous financial products. These practices have led several major banks and international brokerage firms to deal with the judicial and regulatory authorities, paying a total of nearly $ 9 billion in fines: 8000000000 € 250 million



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