Ex-Deutsche Bank trader pursues lawsuit against regulator

Trading Desk

Ex-Deutsche Bank trader Christian Bittar is fighting to press on with a lawsuit against the U.K. regulator over its portrayal of his conduct in relation to benchmark rigging, despite facing criminal charges.

Bloomberg News reports that Bittar’s lawyers asked a London court Wednesday not to postpone the civil matter in light of the criminal proceedings. The U.K. Serious Fraud Office, which is prosecuting Bittar, and the Financial Conduct Authority, are seeking to delay the case.

Bittar is suing the FCA over allegations the regulator made about his conduct in a penalty notice against Deutsche Bank last year when the bank paid a record $2.5bn fine to global authorities over Libor and other related benchmark rigging. Despite the FCA’s attempt to anonymize individuals in the report, a London court ruled last year that Bittar was identifiable, which opened the door for him to challenge the allegations.

To access the complete Bloomberg News article hit the link below:

Ex-Deutsche Bank Trader Bittar Fights to Proceed With FCA Suit

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