Interdealer broker ICAP has confirmed that one of its subsidiaries has become subject to an Financial Services Authority (FSA) investigation, but refused to make any further comment, saying that it is 'confidential'.
The company previously revealed that it had been asked to "provide information to various agencies" investigating the setting of LIBOR and said Thursday the investigation is part of this.
The news prompted the share price to fall more than four per cent in early afternoon trading.
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