Ex-RBS trader fined £250k

A former Royal Bank of Scotland Group (RBS) trader was fined £250,000 (€281,780) and banned from working in the industry by the UK markets regulator for manipulating Libor, five years after the bank was penalised for its role in the scandal.

A former Royal Bank of Scotland Group (RBS) trader was fined £250,000 (€281,780) and banned from working in the industry by the UK markets regulator for manipulating Libor, five years after the bank was penalised for its role in the scandal, writes Suzi Ring.

The Financial Conduct Authority issued the penalty against Neil Danziger, saying the ex-trader “routinely” made requests to RBS Libor submitters to alter the rate to suit his trading positions between 2007 and 2010. The regulator said Mr Danziger, 42, also took trading positions into account when he acted as a submitter during the period.