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FCA fines and bans former trader for benchmark manipulation

FCA has fined Guillaume Adolph, a former short-term interest rate derivatives trader with Deutsche Bank, £180,000 and banned him.  It had originally issued its warning notice in early 2014 but proceedings were stayed because of SFO investigations.

FCA found Mr Adolph had improperly influenced several of the bank’s LIBOR submissions over a period of nearly 2 years. It said he “closed his mind” to the fact the actions were improper and was knowingly concerned in the bank’s failure to observe proper standards of market conduct.

Emma Radmore