SFO Closes Libor-Rigging Probe Without More Charges

Law360, London (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...

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