ICAP deal on probe looms

City A.M. Reporter
ICAP may pay less than $100m (£62m) to settle a civil probe into the broker-dealer’s alleged role in manipulation of a key interest rate, according to people familiar with settlement talks.

The agreement could come as soon as today, according to the Wall Street Journal. It would be the fourth in an investigation into the alleged manipulation of the London interbank offered rate, or Libor, and other benchmarks on which are based interest rates for trillions of dollars of loans.