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The UK’s Financial Conduct Authority (FCA) announced today that it has banned former Royal Bank Of Scotland (RBS) trader, Paul White, from participating in any regulated financial services activities for his part in submitting quotes for compiling the Libor interest rate benchmark.
The enforcement of the ban comes amid the ongoing trial of five former Barclays bankers who appeared in a London court last week accused of conspiring to rig Libor interest rates.
Between 8 March 2007 and 24 November 2010, White was the primary submitter of yen and Swiss franc Libor quotes for RBS. The FCA has, as ... (read more)