Trader Testifies To Lack Of Euribor Training At London Trial

Law360, London (February 4, 2019, 9:10 PM GMT) -- A former Barclays PLC trader charged with illegally manipulating a key interest rate told a London jury on Monday that he was thrown onto a demanding swaps desk as a young trader with very little training, including on the standards for setting the benchmark.

The prosecution rested its case on Monday and the jury heard from one of the three former Barclays traders on trial, Carlo Palombo. Under questioning by defense attorney Sean Larkin, the Italian-born Palombo told the court that he had started at Barclays in 2002, shortly after graduating college, with "essentially" no banking experience other than an internship...

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