Response to Statement of Objections from the Europ..
Response to Statement of Objections from the European Commission
10 June 2014
London, 10 June 2014 - The Company today received a Statement of Objections from the European Commission (EC), alleging that ICAP acted as a facilitator to breaches of EU competition law by certain banks in relation to Yen Libor for isolated periods between 2007 and 2010. These allegations relate to the same underlying matters that ICAP Europe Ltd, one of the Group's Global Broking subsidiaries, settled with the FCA and CFTC in September 2013. ICAP does not believe that it has breached any applicable EU competition law, and will defend itself against these allegations vigorously.
Serra Balls Group Head of Communications +44 (0)20 7050 7103 Rebecca Mitchell Maitland +44 (0)20 7379 5151
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. Group companies provide services that match buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios. For more information go to www.icap.com.