The Financial Conduct Authority has banned a former Deutsche Bank trader from UK financial services after he was convicted of fraud in the USA.
The Financial Conduct Authority has banned a former Deutsche Bank trader from UK financial services after he was convicted of fraud in the USA.
The FCA said Michael Ross Curtler lacked “honesty” and “integrity" after he pleaded guilty to manipulating US dollar Libor submissions in October.
Mark Steward, director of enforcement and market oversight at the FCA, said: "Mr Curtler has admitted engaging in dishonest conduct in making US dollar Libor submissions.
“Dishonesty must disqualify him from UK financial services. Consequently, he must be prohibited."
Curtler, who was born in the UK but worked for German lender Deutsche Bank between 1993 and December 2012, altered Libor submissions to benefit the trading positions of Deutsche and individual traders.
After theManhattan trial US authorities said Deutsche Bank slowed down the conviction process by failing to cooperate properly.
