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UK watchdog bans ex-RBS Libor trader for rate manipulation

( April 12, 2016, 11:51 GMT | Official Statement) -- MLex Summary: Former Royal Bank of Scotland trader Paul White has been banned from performing any function in the UK’s financial markets by the Financial Conduct Authority over his part in rigging the benchmark London interbank offered rate. The watchdog found White guilty of manipulating his Libor submissions at the request of financially interested parties. The FCA has also publicly censured White and would have fined him 250,000 pounds, if he wasn’t suffering from serious financial hardship.The following is the text of the statement. The final notice is attached below....

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