Libor scandals drive record FSA fines of £312m

money

This is a 251% increase on the previous record of £89m in 2010 according to law firm Reynolds Porter Chamberlain (RPC).

The firm said fines relating to Libor-rigging and Euribor-rigging were two of the regulator’s largest ever, and made up more than 70% of the total in 2012 – Barclays was forced to pay £59.5m in June last year, while UBS was handed a fine of £160m in December.

The £312m total could have been higher according to the legal experts who pointed out that 71% of businesses and

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