An ex-UBS Group AG trader banned from the finance industry over allegations that he manipulated Libor rates told a London court that his actions were “mandated” and “sanctioned” by the bank. Arif Hussein, a former head of UBS’s sterling rates desk, is challenging a decision by the Financial Conduct Authority to ban him at a London court hearing Tuesday. His lawyer said in court documents that his actions were “not only permissible but mandated, sanctioned by the words and conduct of his senior managers.”

Arif Hussein, a former head of UBS’s sterling rates desk, is challenging a decision by the Financial Conduct Authority to ban him at a London court hearing Tuesday. His lawyer said in court documents that his actions were “not only permissible but mandated, sanctioned by the words and conduct of his senior managers.”

https://www.bloomberg.com/news/articles/2018-01-02/ex-ubs-trader-says-bank-mandated-conduct-that-led-to-libor-ban