OTTAWA — Canada’s Competition Bureau is pushing ahead with its own probe of a mushrooming international scandal that has already ensnared a venerable British bank and forced the resignation of its chief executive.
Documents filed in an Ontario court suggest the bureau is investigating a possible Canadian link to the scandal that’s rocking the world of global banking — financial skullduggery involving the manipulation of a key international interest rate known as the LIBOR rate.
One of the named parties — the Canadian branch of the Royal Bank of Scotland — has filed a court challenge on the grounds the bureau’s actions are unconstitutional and well beyond the scope of its mandate. But the investigation hasn’t stopped, said Gabrielle Tasse, a spokesperson for the bureau.
“I cannot speak to the investigation because we have to conduct our work privately, but our investigation is ongoing,” Tasse said.