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Major European hedge fund probed

Reuters – Brevan Howard, one of Europe’s largest hedge funds, asked Royal Bank of Scotland PLC to change the LIBOR rate, a former trader for the British bank said in court documents filed in Singapore.

RBS said earlier this month that some of its staff were being investigated as a part of global probes into whether traders at banks tried to influence LIBOR lending rates, the benchmark for around $360 trillion in financial contracts.

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