News Summary: Ex-Barclays COO to testify

Published July 11, 2012 7:47pm ET



HOT SEAT: The Barclays executive identified as the person responsible for ordering false reports of borrowing costs in 2008 will be called in front of a parliamentary inquiry Monday.

RESIGNED: Jerry del Missier resigned as chief operating officer after the U.K. bank was fined $453 million by U.S. and British agencies for false reports and rate manipulation.

BLAMED: Former CEO Bob Diamond told the House of Commons committee that del Missier misunderstood a memo about a conversation between Diamond and a Bank of England executive as an order to misquote interest rates. Some committee members charged that Diamond misled the panel.