Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Lloyds says close to Libor settlement that could reach £300m

Lloyds says close to Libor settlement that could reach £300m

Lloyds has confirmed that it is close to reaching settlement with regulators over Libor abuses following a Financial Times report that the company will pay a fine of up to £300 million.

‘LBG [Lloyds Banking Group] confirms that it is in late-stage settlement discussions with a number of agencies,’ the bank said in a short statement. ‘The settlements remain to be agreed and LBG expects they will include the payment of penalties.’

The FT reported that the settlement would include the publication of 40 emails showing traders discussing how to manipulate Libor benchmark values between 2006 and 2009.

A person familiar with the investigation said that the bank was likely to face more limited criticism than others such as Barclays, due to the wholesale change of management at Lloyds since 2009.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter