Friday, 31 July 2015

UK banks failing to learn lessons from Libor scandal - FCA

From Finextra –

“The UK's banks have failed to learn the lessons from a wave of scandals over rigging of financial benchmarks says the Financial Conduct Authority in a damning report on the industry's response to evidence of widescale market abuses.

The watchdog says that the application of the lessons learned from the Libor, Forex and Gold scandals - in which traders were found to have rigged the rate to boost their bonuses and the standing of their bank - had been uneven across the industry and often lacked the urgency required given the severity of past failings.”

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