Warning Notice Statement 14/4 indicates that a trader at a bank has received an FCA warning notice because the FCA considers that the trader was knowingly concerned in the bank’s contravention of Principle 5 (Market Conduct) for significant failings in relation to an interbank interest rate benchmark.

The FCA considers that the trader dishonestly attempted to interfere with the bank’s interbank interest rate benchmark submissions by making requests to the bank’s submitters for the purpose of benefitting trading positions and knowing it was improper to do so.

View Warning notice statement 14/4, 16 January 2014