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Professor Andrew Verstein quoted in Wall Street Journal blog regarding the ICAP Libor settlement

ICAP Europe Ltd.  UK:IAP -1.22% was fined $65 million Wednesday by the Commodity Futures Trading Commission for allegedly manipulating the London Interbank Offered Rate.

The interdealer broker is just the latest financial firm to be charged for manipulating rates. The U.S. regulator coordinated the charges with the U.K. Financial Conduct Authority on similar charges.

The charges are just the latest in the global investigation by regulators and has ensnared several high-profile banks, including UBS AG UBS -1.40% , Barclays PLC BCS +0.06% and Royal Bank of Scotland Group PLC RBS -1.53%.

Read the full story here.