UK regulator seeks to ban ex UBS trader over alleged Libor rigging

London: Britain`s markets regulator is seeking to ban former UBS trader Arif Hussein from financial services for allegedly attempting to rig Libor benchmark interest rates - a move described by Hussein as a "gross misrepresentation".

The Financial Conduct Authority (FCA), which has banned six people and fined a string of banks as part of a global inquiry into how the London interbank offered rate was set and policed, said on Thursday Hussein was not a "fit and proper person".