US and UK regulators 'to intensify Libor investigations'

16 July 2012

Global regulators are set to step up their investigations into the Libor manipulation scandal in the coming weeks.

That is according to an insider within the banking industry, who has told Bloomberg that British officials may use hearings this week to intensify their analysis of financiers involved in this scandal.

Meanwhile, the equivalent authorities on the other side of the Atlantic could charge Barclays traders for their role in the fiasco - which they have already been punished for in the UK - before the Labor Day holiday on 3 September.

Later today (16 July), leading figures in the British banking industry - Financial Services Authority (FSA) officials Andrew Bailey, Tracey McDermott and Lord Turner - will face questions at a parliamentary hearing on the scandal.

Ian Mason, ex-director of the body's enforcement division, told Bloomberg: "What they’d probably like to know from the FSA is what other investigations are in progress and what stages they’re at."

By Gary Cooper

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