Global regulators are probing whether banks colluded to rig the London interbank offered rate, the benchmark interest rate for more than $360 trillion of securities worldwide -- from mortgages to student loans. Barclays last week was fined a record £290 million by U.S. and U.K. regulators for systematically attempting to rig the rate for profit. At least a dozen banks are still being probed, while British prosecutors are weighing whether to open a criminal investigation.
RP Martin Holdings Ltd. suspended its chief executive officer and a senior director almost six months after two employees were arrested as part of the probe into Libor, two people with knowledge of the matter said
Global financial supervisors are reviewing whether benchmark price-setters for the oil market are meeting international standards amid a European Union probe into potential manipulation of the $3.4 trillion-a-year crude market.
Two weeks after Royal Dutch Shell Plc and Platts changed the way more than half of the world’s crude is valued, the companies along with BP Plc and Statoil ASA are being probed by European antitrust regulators about potential manipulation of oil prices.