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U.K. FSA Is Probing Cross-Border Allegations in Libor Case

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Britain’s Financial Services Authority is pursuing “significant cross-border investigations” related to the interest rate at which banks lend to each other, its acting head of enforcement said.

The regulator is probing “alleged misconduct” tied to the London interbank offered rate, Tracey McDermott said in a speech in London today, the first public disclosure that the agency was reviewing Libor.