The FCA has for the first time issued fines to individuals in respect of LIBOR misconduct failings. On 22 January 2015, the FCA published final notices issued to former senior executives of Martins Brokers (UK) Limited, an inter-broker dealer.

The notices were in respect of compliance and cultural failings at Martins, which the FCA found had contributed to misconduct in respect of LIBOR, and which accordingly risked compromising the integrity of UK financial markets.

In May 2014, the FCA fined Martins £630,000 for LIBOR misconduct, finding that Martins had breached its Principles for Business and in particular Principle 5 (market conduct) and Principle 3 (management and control).