Lloyds fires eight staff over LIBOR

Eight staff members have been dismissed by Lloyds following an investigation into the LIBOR rate fixing scandal that saw the bank fined £218m.

US and UK regulators found the bank had acted with "serious misconduct", jointly handing down the seventh-biggest fine related to the scandal in July this year. Lloyds was particularly chastised by the regulators due to its attempts to manipulate both repo and LIBOR rates, a level of misconduct "not seen in previous LIBOR cases". At the time, Lloyds said it "condemned the actions of the individuals responsible." Today the bank said the group could not take action against any other individuals involved in the scandal because they had already quit the business. Those dismissed tod...