RP Martin Fined Over $2 Million In Libor Inquiry

British broker-dealer RP Martin have been fined over $2 million by British and American regulators over charges of manipulating crucial interbank borrowing rates. RP Martin is the second interdealer broker to be penalized in the case after ICAP plc (LON:IAP) was fined $88 million by the FCA and CFTC in September. Libor inquiry Libor, or the London Interbank Offered Rate, is a global benchmark that is calculated daily, using estimates from banks of their own interbank rates. The Libor scandal erupted a couple of years ago when Barclays was fined £290 million by British and U.S. regulators for attempted manipulation of Libor….