'Judge, I am ashamed of my conduct. I wish I would have been caught sooner'.
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.
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.
ICAP, the world's largest interdealer broker, said on Wednesday that group revenue in the first quarter fell 14% year-on-year, as tough market conditions continued to affect trading.
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, the world’s largest broker of transactions between banks, said full-year revenue and operating profit declined amid 'extremely difficult' trading conditions.
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.
After eight years of legal tussles, a federal judge Friday approved a record $160 million settlement in a racial bias suit against Merrill Lynch brought by black brokers.