The City watchdog has fined and banned a former interest rate derivatives trader for Royal Bank of Scotland (RBS), Neil Danziger.
The Financial Conduct Authority (FCA) levied Danziger with a £250,000 penalty and a ban for life.
“Proper standards of market conduct reflect the interests of the whole community in the well-being of our financial markets. Mr Danziger’s reckless disregard of these standards has no place in the financial services industry," said the FCA's Mark Steward.
"Market participants cannot turn a blind eye to what the community, through its laws and regulations, expects, nor apply their own, lower standards. This substantial fine and ban should reinforce that message.”
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