FIN.

FCA fines and bans former RBS trader, Neil Danziger

The FCA has fined former Royal Bank of Scotland (RBS) interest rate derivatives trader, Neil Danziger, £250,000 and has prohibited him from performing any function in relation to any regulated financial activity.

The FCA found that Mr Danziger, who formerly worked at RBS trading products referenced to Japanese Yen LIBOR,  was knowingly concerned in RBS’s failure to observe proper standards of market conduct and has determined that he is not a fit and proper person because he acted recklessly and lacks integrity.

In its press release, the FCA commented that it has imposed seven financial penalties, totalling £426 million, on firms for misconduct relating to LIBOR.

 

 

FIN. Team