FT article alleges Tullet Prebon has been 'drawn into LIBOR scandal'

An article published in the Financial Times has alleged that FTSE 250-listed broker Tullett Prebon 'has been drawn into the LIBOR scandal' claiming that an individual at the inter-dealer broker was 'implicated in conversations about rigging the yen LIBOR rate'.

An article published in the Financial Times has alleged that FTSE 250-listed broker Tullett Prebon 'has been drawn into the LIBOR scandal' claiming that an individual at the inter-dealer broker was 'implicated in conversations about rigging the yen LIBOR rate'.

An unnamed spokesperson from Tullet Prebon was quoted in the article saying the company had not been informed of a probe by any regulators in relation to LIBOR (London Interbank Offered Rate).

"Tullett Prebon has never been informed by the FSA [Financial Services Authority] or any other regulatory authority that Tullett Prebon or any of its brokers are under investigation in relation to LIBOR," the spokesperson was quoted as saying.

The company's designated global spokeswoman reconfirmed this statement when ShareCast contacted her on Friday.

According to the Financial Times, citing "people familiar with the LIBOR probes", the broker implicated in conversations about rigging the yen LIBOR rate, was referred to anonymously in documents published by the FSA in connection with rate-rigging settlements with both Royal Bank of Scotland and UBS.

Last week, RBS paid £390m to regulators in the UK and US, while UBS paid $1.5bn in December.

In the UBS settlement, the FSA wrote that former UBS trader Tom Hayes, identified as "Trader A", made 39 LIBOR-related requests in July 2009 of an unnamed broker, identified as "Broker F of Broker Firm C".

The Financial Times alleged that two people familiar with the LIBOR probe have said Tullett was Broker Firm C.

Tullett Prebon's share price was down 6.79% to 280.20p at 12:35.

MF

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