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Six brokers face court in Libor-rigging trial


Six former brokers from ICAP, RP Martin and Tullett Prebon facing trial for Libor rigging are due to appear in court today.

Darrell Read, Colin Goodman, Danny Wilkinson, Terry Farr, James Gilmour and Noel Cryan will face trial at Southwark Crown Court for conspiring with UBS and Citigroup trader Tom Hayes to fix the Libor rate.

In August, Hayes was the first person to be sent to jail for Libor rigging. He was sentenced to 14 years in prison for his part in the scandal, rigging rates while at UBS and CItigroup.

All the defendants in the current trial have pleaded not guilty. The trial is expected to last around three months.

Last month the FCA dropped its case against UBS trader Panagiotis Koutsogiannis after it failed to convince an independent panel of the case against him.


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Hargreaves’ advice arm goes restricted

Hargreaves Lansdown is moving to a restricted model and scrapping the minimum asset requirement for its advice service. The move means the advisory arm of the company will no longer have to advise on products that it says are “overly complicated, opaque, expensive or carry excessive investor risk”. Hargreaves says: “We believe that by restricting […]


ABI: 80% of pension withdrawals made by under 65s

Eight in ten cash lump sum withdrawals post-pension freedoms were to savers under the age of 65, data from the Association of British Insurers reveal. The figures also show around 60 per cent of all cash paid out in the first three months of the reforms went to savers younger than 60. Of those who […]


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