FSA has published the internal audit report on its response to the manipulation of LIBOR. The report concludes that there was enough available evidence for FSA to have detected lowballing earlier, but that this was not the case regarding traders’ manipulation of LIBOR for profit. The report recommends better procedures for whistle-blowing and reporting suspicious activity, accountability of top management and exemplary post facto penalties. (Source: FSA Publishes its Internal Audit Report on LIBOR)