2013-07-16 — americanbanker.com
``The U.K.'s Serious Fraud Office has filed criminal charges against Terry Farr and James Gilmour, two former London brokers who had worked at R.P. Martin Holdings Ltd, for allegedly attempting to manipulate global benchmark interest rates, including Libor. The two brokers apparently worked with former UBS and Citigroup trader Tom Hayes, who was hit with similar charges last month. The new charges "underscore the expanding breadth of rate-rigging investigations," notes the Journal. "Authorities also have been homing in on the alleged roles of interdealer brokers such as R.P. Martin, which serve as middlemen between financial institutions looking to buy or sell various products." Meanwhile, Dealbook points out "British authorities had previously taken a back seat to U.S. authorities in the Libor investigation, but the recent charges signal a shift in momentum."''
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