The Royal Bank of Scotland (RBS) refuses to turn over documents and records to Canadian regulators investigating Libor manipulation. In court documents, RBS argues that sharing the documents with Canda’s Competition Bureau is an unreasonable search and seizure. Furthermore, the sharing would violate its privilege against self-incrimination.
In addition to RBS, Canada is also looking at JP Morgan Chase, UBS, Citibank, HSBC, and Deutsche Bank for possible collusion over Libor rates from 2007 to 2010.
Full content: NY Times
Related content: How Far Can Screens Go in Distinguishing Explicit from Tacit Collusion? New Evidence on the Libor Setting
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