The Financial Conduct Authority has banned former Deutsche Bank trader Christian Bittar from performing any function in relation to any regulated financial activity after he was sentenced to over 5 years in prison and ordered to pay £2.5m in compensation by a court.

The Financial Conduct Authority has punished Deutsche Bank with a £227 million fine, its largest ever for LIBOR and EURIBOR-related misconduct, and part of total fines of over £1 billion imposed by UK and US regulators.