Skip to main content


September 23, 2013

ICAP Nears Libor Settlement

“ICAP PLC is expected to pay less than $100 million to resolve a civil probe into the brokerage firm’s alleged involvement in interest-rate manipulation, according to people familiar with the settlement talks.

“The pact, which could come as soon as Wednesday, would be the fourth settlement in the long-running world-wide investigation into alleged rigging of the London interbank offered rate, or Libor, and other benchmarks that underpin interest rates on trillions of dollars of loans and financial contracts.

“London-based ICAP, a top interdealer broker, is set to pay significantly less than any of the three banks that already settled rate-rigging charges with U.S. and U.K. authorities. Barclays PLC, UBS AG and Royal Bank of Scotland Group PLC have agreed to pay a total of about $2.5 billion in settlements since last summer.

The expected deal with ICAP this week will be with only two of the three authorities leading the rate-rigging investigation and involved in the previous three pacts, the Commodity Futures Trading Commission and the U.K.’s Financial Conduct Authority, the people familiar with the talks said.”


Read full Wall Street Journal article here

In the News


For media inquiries, please contact us at or 202-618-6433.

Contact Us

For media inquiries, please contact or 202-618-6433.

To sign up for our email newsletter, please visit this page.

This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

"* (Required)" indicates required fields

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact or 202-618-6433.


Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today