AMA, RCSAs and dealing with Libor at Rabobank

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In October 2013, Dutch bank Rabobank was fined more than $1 billion for its part in the Libor-rigging affair. The fine came in the form of a $168 million fine imposed by the UK Financial Conduct Authority, $325 million by the US Department of Justice, $475 million by the US Commodity Futures Trading Commission and $96 million by the Dutch public prosecution service, Openbaar Ministerie. The bank was accused of poor internal controls that encouraged collusion between traders and Libor submitters.

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