Broker ICAP paying $87M to settle LIBOR charges

Published September 25, 2013 1:11pm ET



WASHINGTON (AP) — Britain’s ICAP PLC has agreed to pay about $87 million to settle U.S. and U.K charges of manipulating a key global interest rate, the fourth financial firm sanctioned in the international rate-rigging scandal.

The U.S. Commodity Futures Trading Commission said Wednesday that ICAP, the world’s largest broker of trades between banks, engaged in rigging of the London interbank offered rate, or LIBOR, from October 2006 to January 2011.

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.