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Barclays forced to reveal names of 208 staff linked to Libor-rigging

Barclays Rain 480

A High Court judge has forced Barclays to reveal the names of 208 staff linked to attempts to manipulate Libor.

The bank will today hand over the names to the legal team of a care home operator, Guardian Care Homes, that is suing the bank for £38m for misselling it complex interest rate derivatives following the ruling of a High Court judge, according to the Telegraph.

Barclays had argued against the need to disclose the names, according to the newspaper, but Mr Justice Julian Flaux said on Tuesday that it was “unacceptable” to deny access to the names.

In June, Barclays was fined £290m for rigging the financial benchmark, leading to the resignation of its chairman Marcus Agius and chief executive Bob Diamond.

Earlier this week it emerged the US Department of Justice had approached at least 10 Royal Bank of Scotland traders in connection with a criminal investigation into the alleged manipulation of Libor.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. I am interested to know how many of these people are still doing their job. Havent seen any headlines in MM thus far telling us that 208 people in this monstrosity have been banned from FS for life. The bank knows who they are so the FSA should also know. Would not surprise me if the FSA come off with some kind of whitewash statement of “We do not have the powers to take any action against these people”

  2. Surely the rigging of libor was fraud and as such the people responsible should personally be subject to fines etc by the FSA, and also subject to criminal proceedings. The US Department of Justice are considering criminal proceedings against RBS, why is there no similar reporting about such considerations by the CPS against those banks operating in the UK?

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