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US: Details emerge about DOJ’s plans for rate-rigging charges

By  |  October 8, 2014

The US Department of Justice is set to bring charges against several institutions and individuals for claims of rate-rigging, unnamed sources said.

The DOJ will likely seek guilty pleas from several firms, including at least one in the US, by the end of the year. The sources told reporters of the developments as reports emerged earlier this week that US authorities will likely pursue a guilty plea from Germany’s Deutsche Bank for LIBOR-rigging charges.

According to reports, the DOJ’s reported plans would place the regulator on track with the progress of its counterparts in other jurisdictions. The UK’s Financial Conduct Authority, for example, is reportedly already in settlement talks with several banks over rate manipulation.

The US Federal Reserve is also in the midst of its own case.

Full content: Money News

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