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FCA Fines and Bans Former Deutsche Bank Trader Guillaume Adolph

The Financial Conduct Authority (FCA) has fined Guillaume Adolph £180,000 and banned him from performing any function in relation to any regulated financial activity. Mr Adolph formerly worked at Deutsche Bank as a short-term interest rate derivatives trader, trading products referenced to CHF (Swiss Franc) and JPY (Japanese Yen) LIBOR. For a period of time, Mr Adolph acted as the primary JPY LIBOR submitter for Deutsche. Mark Steward, Director of Enforcement and Market Oversight at the FCA said: “Mr Adolph improperly influenced several of Deutsche’s LIBOR submissions in disregard of standards governing LIBOR submissions.  Mr Adolph’s misconduct threatened the integrity of important benchmarks. ...