SFO Closes Libor-Rigging Probe Without More Charges
By Richard Crump (October 18, 2019, 1:24 PM BST) -- The U.K.'s Serious Fraud Office said Friday it had ended its investigation into the manipulation of Libor without bringing any further charges in the far-reaching scandal over the key benchmark interest rate.
Trader Tom Hayes was convicted of conspiracy to manipulate a major market benchmark rate. (AP)
The British white-collar watchdog said it had decided not to bring any more charges in the case after prosecuting 13 individuals for rigging the London interbank offered rate, a benchmark tied to trillions of dollars worth of loans, with mixed results.
The SFO's general counsel, Sara Lawson QC, made the call as the agency's...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!