(Reuters) – Broker-dealer ICAP is in advanced talks with U.S and British regulators over a deal to end an investigation into its alleged role in the manipulation of benchmark interest rates, the Wall Street Journal reported on Thursday.
Citing people familiar with the negotiations, the newspaper said an agreement with the U.S. Justice Department and Commodity FuturesTrading Commission (CFTC) and the UK Financial Conduct Authority (FCA) was likely in the coming weeks, although it could be delayed.
ICAP declined to comment. The U.S. Justice Department had no immediate comment. Neither the CFTC nor the FCA could be immediately reached for comment.
British and U.S. regulators have so far fined three banks, UBS, Barclays and Royal Bank of Scotland , a total of $2.6 billion over the rigging of the London Interbank Offered Rate (Libor), which is used to price trillions of dollars worth of products, including derivatives and mortgages.