RBS, UBS Traders Said to Face Arrest Within Month in Libor Probe

U.K.'s Serious Fraud Office won't confirm, but notes "significant developments" in case.

U.K. prosecutors are poised to arrest former traders and rate setters at UBS AG, Royal Bank of Scotland Group Plc and Barclays Plc within a month for questioning over their role in the Libor scandal, a person with knowledge of the probe said.

The arrests will be made by police under the direction of prosecutors at the Serious Fraud Office within the next month, said the person, who declined to be identified because the matter isn’t public. Arrests in the U.K. are made at an early stage of the investigation, allowing police and prosecutors to question people under caution and may not lead to charges.

Egregious Attempts

Green said the agency is focusing on the most egregious attempts to manipulate Libor and other related benchmarks, with probes into firms, managers, traders and rate setters at lesser offenders coming later.

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