The U.K. Listing Authority will publish new rules in July for companies seeking a share offering or that already list securities in the country, Financial Services Authority spokesman Chris Hamilton said.
Libor traders face fines of as much as 2.5 million pounds ($4.2 million) by the U.K. markets regulator for misconduct in relation to the interest rate benchmark, according to people with knowledge of the situation.
It’s 20 minutes before 4 p.m. in London and currency traders’ screens are blinking red and green. Some dealers have as many as 50 chat rooms crowded onto four monitors arrayed in front of them like shields. Messages from salespeople and clients appear, get pushed up by new ones and vanish from view. Orders are barked through squawk boxes.
Bank of England officials told currency traders it wasn’t improper to share impending customer orders with counterparts at other firms, a practice at the heart of a widening probe into alleged market manipulation, according to a person who has seen notes turned over to regulators.
A group of Co-Operative Bank Plc bondholders called on the U.K.’s Financial Conduct Authority to ensure individual investors get independent financial advice on how to respond to the bank’s plans to plug its capital deficit.
Global regulators may start overseeing currency rates in a widening response to benchmark- rate setting scandals that began with revelations on the manipulation of Libor, two people familiar with the matter said.