ICAP complains to European Ombudsman

Mouth Julia Freeman Woolpert

ICAP has complained to the European Ombudsman about European Union regulatory prejudice in a financial benchmark rigging probe last year, following in the footsteps of Credit Agricole.

Broker admits involvement with post-it notes insider ring

Fin Ring

A former mortgage broker from Brooklyn admitted on Friday to being the glue that held together an insider trading ring that involved the passing of stock tips on Post-it notes and napkins in meetings at restaurants in Midtown Manhattan and at Grand Central Terminal.

Top firm cuts CEO bonus after fine

Pair Of Scissors

ICAP cut CEO Michael Spencer’s bonus 75% after profit missed targets and the interdealer broker paid a fine to settle a probe by British and U.S. regulators into Libor-rigging.

ICAP profits fall

Money On Hook

ICAP, the world’s largest broker of transactions between banks, said full-year revenue and operating profit declined amid 'extremely difficult' trading conditions.

Tullett Prebon to trim headcount

Graph And Coins

British interdealer broker Tullett Prebon said on Friday it would cut costs and trim headcount as challenging market conditions continued to weigh on its business, sending revenue 12% lower in the first four months of the year.