A former Barclays banker, convicted for rigging a benchmark rate, has been handed a lifetime-ban by the Financial Conduct Authority (FCA) from working in the finance sector again.
In 2019 Colin Bermingham was found guilty of manipulating the Euribor benchmark by a majority verdict of a jury, and sentenced to five years in prison.
In a final notice published today the FCA said: “His conviction demonstrates clear and serious dishonesty and a lack of integrity such that he is not fit and proper to perform functions in relation to regulated activities.”
The regulator deemed him unfit to undertake any regulated role.
The FCA verdict comes after an unsuccessful attempt by Bermingham to overturn his conviction last year.
Bermingham agreed to resolve the matter with the lifetime ban, according to the FCA.