Paul Robson, a former trader at Rabobank Groep, has been banned from Britain’s financial-services industry in the first public action by the Financial Conduct Authority against an individual for rigging Libor.
Bloomberg News reports that Robson, who worked on Rabobank’s money markets and short term forwards desk in London, was deemed 'lacking honesty and integrity' after he pleaded guilty in the U.S. to fraud charges and was convicted last year over his role in a conspiracy to manipulate the London interbank offered rate, the FCA said in a statement Tuesday.
'No excuse can be made for Mr Robson’s behavior, which was particularly serious', Georgina Philippou, the FCA’s acting executive director of enforcement and market oversight, said in the statement. 'He was the primary submitter of yen Libor at Rabobank for a number of years and experienced in the market. He knew what he was doing was wrong'.
To access the complete Bloomberg News article hit the link below: