Icap chief executive Michael Spencer Thursday said it hasn't fired any employees and didn't find any evidence of "wash trades" after conducting an internal probe into the firm's possible involvement in the global rate-rigging scandal.

He said he doesn't know when the UK Financial Services Authority might conclude an investigation into the firm. Icap last month confirmed the investigation, after having previously said it was assisting government agencies in the broader industry probe. An FSA spokesman declined to comment.