FSA’s Libor probe gathers speed

City A.M. Reporter
THE investigation into interdealer broker Icap in connection with Libor rate rigging has intensified, a source close to the probe confirmed last night.

Seven of the estimated 50 staff working on the Libor probe for City watchdog, the FSA are now focusing on Icap.

Icap, founded by Michael Spencer, said last year that it had been asked to provide information to investigators and said it was co-operating fully with the authorities.