Barclays Is Under Investigation In The US And UK For Breaking Chinese Wall Rules

Bob Diamond Barclays

Barclays is being investigated by US and UK authorities over potential violations of Chinese wall rules, according to the Financial Times.

The investigation relates to LIBOR, the London interbank offered rate, and whether or not Barclays traders were speaking to its treasury arm when the firm was involved in setting rates. LIBOR is the rate at which banks lend to each other in the market.

The investigation is into actions by banks between 2006 and 2008.

UBS, Citigroup, and Bank of America have all also been subpoenaed in the case.

Read the full story at the FT >

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