UK regulator issues warning notice to two more LIBOR traders

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Britain's financial regulator has issued a warning notice to another two traders for 'significant failings' over a period of around two years, as part of an investigation into manipulation of benchmark interest rates.

Reuters reports that the Financial Conduct Authority (FCA), which has already sent warning notices to five other traders, did not name the latest two. But it said one was a manager and trader at a bank, who was personally aware of and condoned other traders making requests to manipulate benchmark rate submissions.

The individual facilitated others' attempts to manipulate benchmark submissions and was aware of the inadequacy of the bank's systems, controls or policies governing the procedure for making interest rate benchmark submissions, but took no steps to address this, the FCA said in a statement on Thursday.

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