The UK's Financial Conduct Authority has fined and banned a former Deutsche Bank derivatives trader for his role in the Libor scandal.

The FCA said in a statement that it has fined Guillaume Adolph, who traded short-term interest rate derivatives at the German bank, £180,000. Adolph would otherwise have been on the hook for £200,000, but he received a discount for agreeing to settle before the FCA published its decision notice, the regulator said.