{"id":5541,"date":"2014-01-07T00:00:00","date_gmt":"2014-01-07T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/01\/rbs_securities_japan_unit_to_p"},"modified":"2022-05-04T14:49:38","modified_gmt":"2022-05-04T19:49:38","slug":"rbs-securities-japan-unit-to-p","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/rbs-securities-japan-unit-to-p\/","title":{"rendered":"RBS Securities\u2019 Japan Unit to Pay $50M Criminal Fine Over Libor Manipulation"},"content":{"rendered":"\n

A US judge has ordered Royal Bank of Scotland Group Plc\u2019s (RBS)<\/a> banking unit in Japan to pay a $50 million fine over its involvement in manipulating LIBOR. RBS Securities Japan Ltd. <\/a>entered a guilty plea to wire fraud as part of its parent company\u2019s $612 million securities settlements to resolve civil and criminal charges over the rate manipulation.<\/p>\n

On December 31, RBS Securities Japan and the US government turned in a joint court filing stating that from at least between 2006 and 2010 some of the bank\u2019s traders tried to move Libor in a manner that would benefit their positions. The attempted manipulation of over a hundred Yen Libor submissions was reportedly involved. <\/p>\n

Authorities say that as a result traders profited at counterparties\u2019 expense. The filing noted that investigations uncovered wrongful behavior involving Libor submission for the yen and another currency and that about 20 RBS traders, including four at the RBS unit in Japan were involved. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

A US judge has ordered Royal Bank of Scotland Group Plc\u2019s (RBS) banking unit in Japan to pay a $50 million fine over its involvement in manipulating LIBOR. RBS Securities Japan Ltd. entered a guilty plea to wire fraud as part of its parent company\u2019s $612 million securities settlements to resolve civil and criminal charges […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3999],"tags":[],"class_list":["post-5541","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-rbs-securities"],"yoast_head":"\nRBS Securities\u2019 Japan Unit to Pay $50M Criminal Fine Over Libor Manipulation — Investor Lawyers Blog — January 7, 2014<\/title>\n<meta name=\"description\" content=\"A US judge has ordered Royal Bank of Scotland Group Plc\u2019s (RBS) banking unit in Japan to pay a $50 million fine over its involvement in manipulating — January 7, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, 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