FCA fines and bans 'reckless' Libor rigger Danziger

Danziger was found by the regulator to have been "knowingly concerned" in RBS's failure to observe proper standards of market conduct between February 2007 and November 2010. Specifically, the FCA said Danziger, whose role involved trading products referenced to Japanese yen Libor, routinely made requests to RBS's primary submitters, intending to benefit the trading positions for which he and other derivatives traders were responsible. He then took those trading positions into account when acting as a substitute submitter. On two occasions he also obtained a broker's assistance to att...