Sept 25 The U.S. Justice Department is expected
to disclose criminal charges against former and current
employees of ICAP Plc as soon as Wednesday for allegedly
manipulating benchmark interest rates, the Wall Street Journal
reported, citing people familiar with the planned charges.
Authorities in the United Kingdom and United States are also
expected to announce civil settlements against the broker-dealer
on Wednesday, sources familiar with the matter told Reuters.
Britain's ICAP may pay less than $100 million to settle the
civil probe into the alleged rigging of the London Interbank
Offered Rate, or Libor, and other benchmarks on which are based
interest rates for trillions of dollars of loans, the Journal
said on Sunday, citing sources.
In the Libor probe four individuals have been charged to
Barclays Plc, UBS AG and Royal Bank of
Scotland Group Plc have agreed to pay a total of about
$2.5 billion in settlements since last summer.
ICAP, the U.S. Justice Department and the U.S. Commodity
Futures Trading Commission were not available for comments
While Britain's Serious Fraud Office said it would issue a
statement on the matter on Wednesday, the country's Financial
Conduct Authority declined to comment.