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US, British regulators fine London brokerage for rate rigging

RP Martin penalised for manipulating Libor

US and British regulators fined RP Martin, a small London brokerage firm, a total of about $2.2 million for attempted manipulation of benchmark interest rates.

The penalty against RP Martin brings to six the number of financial institutions penalised by US and British authorities for attempting to rig the London interbank offered rate, or Libor, and other interest rates that underpin everything from mortgages to derivatives.

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