PRESS DIGEST- Financial Times - Feb 18

Mon Feb 17, 2014 8:23pm EST

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Feb 18 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

EU exit will block UK bank trade, top Brussels official says

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Banks review rules on forex traders betting own money

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Iran's Bank Mellat sues UK Treasury in $3.9 billion lawsuit

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Three former Barclays employees face SFO charges over Libor

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Santander fined 16.9m over mis-selling scandal

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Overview

London's financial services centre would lose access to the wider European Union should Britain quit the bloc, the EU's justice chief said on Monday, warning that such a move would reduce its status to that of an offshore centre.

In a crackdown on currencies traders, financial institutions including Royal Bank of Scotland, Deutsche Bank and UBS are reviewing the rules governing how traders make bets with their own money.

Iran's largest private bank Mellat is suing the British government for almost $4 billion in damages after the Supreme Court quashed sanctions imposed against it over alleged links to Tehran's nuclear programme.

Britain's fraud agency started criminal proceedings against three former bankers at Britain's Barclays Plc for the alleged manipulation of Libor interest rates.

Euro zone's largest bank by market value, Santander , was fined 16.9 million euros ($23.2 million) by Spain's market regulator for mis-selling convertible bonds to customers.

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