by Staff Writer on July 27, 2012
Investors are pushing some of the world’s biggest hedge funds to show that their traders played no part in the interest rate rigging scandal plaguing major banks.
These hedge funds have responded with in-depth internal probes which they hope will assure investors that they did not collude with the banks, are completely clean and will not become embroiled in the affair, people familiar with the funds said.
Regulators across the globe are investigating whether banks tried to rig the London interbank offered rate, a benchmark used to set the price of trillions of dollars of financial products.
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