European Commission has issued inter-dealer broker with £11.3m fine
Icap has said it will appeal against a
decision by the European Commission to fine the British broker
£11.3m regarding allegations that it facilitated Yen
Libor rate-rigging cartels.
Icap issued a statement on Wednesday
maintaining the fine was "wrong both in fact and in law," and
said that it will be challenging the fine through appeal in the
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