European Commission Fines London-Based Broker ICAP 14.9 Million Euros For Facilitating Yen Libor Cartels
Posted 02/9/15
A View from Constantine Cannon’s London Office
By Yulia Tosheva and James Ashe-Taylor
The European Commission (“EC”) 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...