Ex-Deutsche Bank trader Gavin Black asks for sentence of supervised release

Gavin Black, who has been found guilty of handling LIBOR, is seeking a two-year probation order in the UK and a hefty fine. Former Deutsche Bank merchant Gavin Black, who, along with Matthew Connolly, was found guilty of conspiracy to…

UK regulator imposes £15.4m fine on Tullett Prebon over ineffective controls around broker conduct

The Financial Conduct Authority found that between 2008 and 2010 Tullett Prebon's Tariff Division had ineffective controls over the conduct of brokers. The UK Financial Conduct Authority (FCA) announces today that it has fined Tullett Prebon (Europe) Limited a £…

DOJ seeks heavy prison sentence for ex-Deutsche Bank trader Matthew Connolly

According to the United States government, sentencing guidelines provide for a prison sentence of 151 to 188 months for Connolly. The United States Department of Justice has filed a draft sentence with the Southern New York District Court regarding Matthew…

Euronext FX set for diversification under “Let’s Grow Together 2022” strategy

Euronext FX is on the verge of diversifying with the development of new product packages, particularly derivatives, and targeting new customer segments and new geographies. Euronext NV (EPA: ENX) unveiled its new three-year strategic plan, "Let's Grow Together 2022", including…

FINRA fines ABN AMRO Clearing Chicago for understating portfolio margin requirements

From April 2007 to July 2015, the company underestimated the portfolio's margin requirements for 22 accounts at different times. ABN AMRO Clearing Chicago LLC, a provider of clearing services to institutional clients, including stock brokers and proprietary clients, has agreed…

CFTC settles charges against BGC Financial and GFI Securities over FX options market fraud

The orders impose a $ 15 million fine on BGC and a $ 10 million fine on GFI. The United Commodity Futures Trading Commission (CFTC) announced the issuance of orders to classify and settle charges against BGC Financial, LP and…

Bank of England warns firms keep writing new Libor contracts despite pending discontinuance

According to an analysis by the Bank of England, Libor loans continue to dominate especially in credit markets. The Bank of England (BoE) today published an analytical article as regards the preparation of the markets at the end of Libor.…

Transition away from LIBOR continues to spark confusion among firms, Accenture study finds

The study reveals that most respondents have put in place transition plans, but that less than half of them believe that they would be able to meet the 2021 deadline. to complete this transition. A new Accenture report reveals that…

DOJ provides info to victims of ex-Deutsche Bank traders convicted of LIBOR manipulation

Those who are willing to submit a victim impact statement are encouraged to do so by October 1, 2019. The United States Department of Justice (DOJ) has published a page on proceedings against Matthew Connolly and Gavin Campbell Black, former…