Regulator drops Libor probe into banker known as 'Pete the Greek'

The UK financial regulator has dropped an investigation into a former senior UBS banker caught up in the Libor scandal, after its own review panel found there was not a strong enough case to pursue him.

The Daily Telegraph reports that the Financial Conduct Authority will not take enforcement action against Panagiotis Koutsogiannis, known as 'Pete the Greek' to his colleagues, after the independent experts on its regulatory decision committee found that dishonest conduct was not proven.

'After a long and detailed investigation and a full hearing of the Regulatory Decisions Committee of the FCA it was concluded that Mr Koutsogiannis’ conduct was neither dishonest nor lacking in integrity', said Ben Rose, Mr Koutsogiannis’ lawyer and a founding partner of Hickman & Rose.

To access the complete Daily Telegraph article hit the link below:

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