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Lloyds Banking Group has been fined £218m for "serious misconduct" over some key interest rates set in London.
The fines were issued by the UK-based Financial Conduct Authority (FCA) and a US-based trading commission. Lloyds manipulated the London interbank offered rate (Libor) for yen and sterling and attempted to manipulate the rate for yen, sterling and the US dollar, said the US legal order. Lloyds said it "condemns the actions of the individuals responsible". The FCA fined Lloyds £105m. It said the fine was the "joint third-highest ever imposed" by the organisation or its predecessor, the Financial Services Authority.
Misconduct unparalleledIn the US, the Commodity and Futures Trading Commission fined the group, which is responsible for Lloyds Bank and the Bank of Scotland, $105m (£61.7m)......Read more here
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