U.S. fines broker RP Martin over manipulation of LIBOR rate

WASHINGTON Thu May 15, 2014 8:30am EDT

WASHINGTON May 15 (Reuters) - The U.S. Commodity Futures Trading Commission on Thursday fined broker RP Martin Holdings Ltd and its British subsidiary $1.2 million over charges of manipulating crucial interbank borrowing rates.

"RP Martin brokers on its Yen desk at times knowingly disseminated false and misleading information concerning Yen borrowing rates to market participants in attempts to manipulate, at times successfully, the official fixing of the daily Yen LIBOR," or London Interbank Offered Rate, the U.S. regulator said in a statement. (Reporting by Susan Heavey)