[ by Melanie Gretchen ] The Barclays Plc settlement of £290 million ($452 million) may have lasting results for the London interbank offered rate, or Libor.  Following the settlement with the CFTC and the U.K.'s Financial Services Authority, which charged Barclays staff with having manipulated the rate for personal profit, plans were set in motion for the FSA to conduct a review into  how the Libor is calculated. Amid pressure from Business Secretary Vince Cable, who seeks a criminal investigation, and calls by Bank of England Governor Mervyn King, who suggests scrapping the current system used to calculate Libor, the FSA review is scheduled to begin next week and conclude by the end of summer.  Mr. Cable said the FSA review would serve other purposes, namely:  to determine whether criminal sanctions should brought against directors of failed banks.;  to determine whether there should be a presumption that directors of failed banks should not be allowed to work in the industry again - that, according to Adair Turner, Chairman of the FSA. For further details, go to [Fox Business, 7/1/12].