SFO Libor

News & Analysis as of

Reflections on a Sentence: Spooking the City

Tom Hayes emerges from his trial at Southwark Crown Court for Libor manipulation as a very considerable loser, who took some very bad decisions in the course of the SFO investigation and trial (and perhaps deserves his long...more

Big win for SFO in LIBOR trial – Tom Hayes sentenced to 14 years. More SFO prosecutions to come in financial sector?

The conviction of Tom Hayes in the first UK LIBOR trial is a watershed moment. It’s a big win for the SFO, although it must be said that a more damning book of evidence could not be imagined. The judge’s sentencing remarks...more

FCA Enforcement Performance: Part 2 – The Forex Effect

Only a couple of weeks ago I was commenting on a NERA report that had found that in the period between April 2012 and October 2014 the FCA had imposed fines of over £1bn, in sharp contrast to the preceding decade during which...more

Former Financial Trader Charged with Fraud in SFO LIBOR Investigation

As part of the continuing investigation by the UK’s Serious Fraud Office (SFO) into the manipulation of LIBOR, the City of London police charged former UBS and Citigroup trader Tom Hayes with eight counts of fraud on June 18....more

Quadrophenia and Four Compliance Issues

This past weekend I saw the remaining members of The Who perform in their Quadrophenia Tour. While I had seen Roger Daltry perform the rock opera Tommy, I had never seen Pete Townsend in concert. To say I was blown away would...more

Libor Update

On December 11, the Serious Fraud Office (the SFO) published a press release stating that three men had been arrested and interviewed in relation to its investigation into the manipulation of LIBOR....more

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