Lloyds Bank Fires Eight After Rate Rigging Probe

Mani

Published onSeptember 29, 2014

Updated on May 13, 2021

Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY) said on Monday it had terminated eight individuals and clawed back about $4.9 million in unpaid bonuses after it was fined by regulators over manipulation of global benchmark interest rates.

However, the eight individuals still have the right to appeal the bank’s decision to dismiss them.

Lloyds fined $370 million

As reported earlier, Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY) was handed a joint $370 million fine back in July by the UK Financial Conduct Authority and U.S. regulators for its part in...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

Lloyds Bank Fires Eight After Rate Rigging Probe

Lloyds fined $370 million

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