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Barclays Capital ordered to pay $2.1m to NY trader

Simon Dawson | Bloomberg via Getty Images

Barclays Capital Inc has been ordered to pay $2.1 million to a New York-based trader it fired last year in connection with the alleged rigging of the London interbank offered rate, or Libor, according to arbitration documents.

The Financial Industry Regulatory Authority in the United States ordered Barclays Capital to pay Dong Kun Lee $2.1 million in damages in their award dated Nov 15.

(Read more: Libor criminal investigations will happen: Diamond)

According to regulatory filings, on July 30, 2012 Barclays dismissed Dong (Don) Kun Lee, a derivatives trader, for allegedly engaging "in communications involving inappropriate requests relating to Libor".

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Lee accused the company of a breach of contract and violation of New York labour law among other things in a subsequent arbitration claim.

A London-based spokesman for Barclays Plc declined to comment.

Lee originally asked Barclays to pay about $5.3 million in damages, but later reduced his request to about $2.1 million.

(Read more: Barclays suspends traders in currency probe: source)

Barclays Capital provides securities brokerage and financial advisory services and operates as a subsidiary of London-listed Barclays Plc.