[arista]

Lloyds Risks Criminal Action For Fee Fixing


[The Bank of England (BoE) governor has
warned Lloyds Banking Group that
"clearly unlawful" conduct over fee
manipulation may amount to criminal conduct.
In a letter dated July 15, Mark Carney
told Lloyds chairman Lord Blackwell
that attempts to reduce fees payable
to the BoE under the special liquidity
scheme (SLS) were "reprehensible".
Mr Carney said: "Such manipulation
is highly reprehensible, clearly unlawful
and may amount to criminal conduct
on the part of the individuals involved."
The revelation of potential criminal action
comes as Lloyds was fined £218m
by UK and US regulators
over manipulation
of the Libor benchmark,
along with a £7.76m compensation
figure to the BoE over the now-defunct SLS.
The UK regulator, the Financial Conduct
Authority (FCA), fined Lloyds £105m,
while the US Commodity Futures Trading Commission
(CFTC) fined Lloyds £62m and
the US Department of Justice penalty was £51m.]


http://news.sky.com/story/1308901/ll...for-fee-fixing