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Criminal Prosecution Libor

ArentFox Schiff

The End of LIBOR: Hotel California Edition [Part II]

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On October 1, 2024, the United Kingdom Financial Conduct Authority (UK FCA) phased out ‘Zombie’ LIBOR, as a transitional benchmark, with the move to alternative “risk-free” rates....more

Morrison & Foerster LLP

Material Misrepresentations in Wire Fraud Prosecutions – The Truth Matters

The Second Circuit’s recent decision in United States v. Connolly underscores the government’s burden of proving a materially false representation to sustain a wire fraud conviction. ...more

Akin Gump Strauss Hauer & Feld LLP

2021 Year in Review - Civil Fraud

Welcome to our 2021 round-up for civil fraud litigation, complex crossborder disputes and asset recovery. In this publication, we consider some of the key cases and developments in English law and practice from the past year...more

The Volkov Law Group

DOJ Loses Another Libor-Rigging Case on Appeal

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The Justice Department trumpeted its criminal prosecutions against defendants charged with Libor-rigging.  It had a right to toot its own horn.  But many of these convictions have not withstood the scrutiny of appellate...more

A&O Shearman

Second Circuit Reverses Conviction Of Two Traders Accused Of LIBOR Rigging Scheme, Finding Insufficient Evidence Of False Or...

A&O Shearman on

On January 27, 2022, the United States Court of Appeals for the Second Circuit reversed the convictions of two former traders convicted of wire fraud and conspiracy to commit wire and bank fraud, part of the widely-publicized...more

Womble Bond Dickinson

Report: DOJ Launches Investigation into Alleged Energy Pricing Benchmark Fraud

Womble Bond Dickinson on

Investigators with the U.S. Department of Justice reportedly are investigating energy pricing benchmarks published by Platts, targeting suspected manipulation of deal prices provided by individual traders.  According to...more

Robins Kaplan LLP

Financial Daily Dose 10.14.2020 | Top Story: WTO Allows EU to Impose $4B in Tariffs Over U.S. Boeing Subsidies

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The WTO—already on shaky ground with the White House—did little to endear itself on Tuesday with a decision giving the EU “permission to impose tariffs on $4 billion worth of American products annually in retaliation for...more

Robins Kaplan LLP

Financial Daily Dose 9.12.2019 | Top Story: Purdue Pharma Reaches Tentative Comprehensive Opioid Crisis Settlement

Robins Kaplan LLP on

The White House is reportedly nearing a nationwide ban on most flavored e-cigarettes, a direct response to the recent spate of vaping-related illnesses that have affected hundreds across the country....more

Robins Kaplan LLP

Financial Daily Dose 8.14.2019 | Top Story: U.S. Backs Off New Tariffs on China Until December

Robins Kaplan LLP on

In the internal battle between keeping China off balance and keeping Wall Street happy, the White House has decided once again to focus on the latter, walking back the latest tariff escalation by postponing promised...more

A&O Shearman

Companies With Effective Antitrust Compliance Programs Could Get Relief From Criminal Prosecution Under New DOJ Policy

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The Antitrust Division of the U.S. Department of Justice (Division) finally will consider the existence of effective antitrust compliance programs at the charging stage of criminal antitrust investigations, opening up the...more

White & Case LLP

Witness for the prosecution – the problem of expert witnesses in criminal trials

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Many will be aware of Agatha Christie's popular and much-adapted tale involving a witness for the prosecution whose evidence is undermined. But, in the real world, last month we saw the latest discrediting of an expert...more

WilmerHale

UK “Outsourcing Corporate Financial Crime Enforcement to the US”, Claims Corruption Watch

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Corruption Watch UK has claimed that “a company committing economic crime in the US is far more likely to be hit with criminal, civil and regulatory penalties than one in the UK.” In a hard-hitting report published on 5 March...more

Morrison & Foerster LLP

Quarterly Cartel Catch-Up: Recent Developments in Criminal Antitrust for Busy Corporate Counsel - Winter 2019

We summarize below some of the most significant cartel enforcement developments from U.S. and other antitrust enforcers, including policy shifts, investigations, case filings, and court rulings. This report summarizes...more

A&O Shearman

UK Conduct Regulator Bans Former LIBOR Submitter From Performing Any Regulated Activity

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The U.K. Financial Conduct Authority has published the Final Notice (dated October 30, 2018) that it issued to a former employee of a major international bank, prohibiting him from performing any function relating to any...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

The Federal Reserve bank released the minutes from its September meeting yesterday. Among other things, we learned that the Fed Governors moved largely in lockstep on September’s rate hike, even as the crew was less unanimous...more

Eversheds Sutherland (US) LLP

In a first coordinated resolution, US and French authorities announce agreement to settle criminal charges with Paris-based...

On June 4, 2018, Société Générale S.A., together with a subsidiary of the Paris-based global financial services institution, announced an agreement with both French and American authorities to resolve charges relating to...more

A&O Shearman

UK Conduct Regulator Bans RBS Trader for Manipulation of Japanese Yen LIBOR

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The Financial Conduct Authority published a Final Notice in relation to Neil Danziger, a former RBS interest rate derivatives trader, in connection with his involvement in the manipulation of Japanese Yen LIBOR. The FCA...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - November 2017

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including new U.K. reporting obligations for sanctions violations,...more

A&O Shearman

UK Financial Conduct Authority Decision to Ban Ex-Libor Trader Hayes Delayed Pending Criminal Review

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The Financial Conduct Authority has announced that it has decided to prohibit former trader Tom Hayes from performing any function relating to any regulated activity in the financial services industry. The FCA stated that Mr....more

The Volkov Law Group

LIBOR Criminal Convictions Reversed – The Perils of Global Enforcement

The Volkov Law Group on

The growth of global enforcement systems raises important policy issues and risks for enforcement authorities. In an interesting case, US v. Allen and Conti, the Second Circuit Court of Appeals reversed criminal convictions...more

McDermott Will & Emery

Second Circuit Clarifies Fifth Amendment Law, with Implications for US Prosecution of International Cartels

McDermott Will & Emery on

On July 19, 2017, the Second Circuit vacated the convictions and dismissed the indictments of two individuals accused of playing a role in the manipulation of the London Interbank Offered Rate (LIBOR). United States v. Allen,...more

Cadwalader, Wickersham & Taft LLP

US Second Circuit Finds Testimony Compelled by UK Regulators to be Inadmissible in Criminal Proceedings

Creating a potential new impediment for collaboration between UK and US investigators, the Court of Appeals for the Second Circuit in New York recently held that evidence derived from compelled testimony cannot be used in a...more

Troutman Pepper Locke

Fifth Amendment Prohibits Use of Compelled Foreign Testimony in U.S. Criminal Trials

Troutman Pepper Locke on

On July 19, the U.S. Court of Appeals for the Second Circuit vacated the conviction of two former London-based bankers, Anthony Allen and Anthony Conti, who were convicted in October 2015 on multiple counts of bank and wire...more

BCLP

Second Circuit Hands Government a Major Setback in LIBOR Fraud Case

BCLP on

On July 19, 2017, the United States Court of Appeals for the Second Circuit issued a decision that could impact prosecutions of corporate employees that result from multi-jurisdictional investigations, such as those involving...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Cross-Border Investigations Update - June 2016"

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a look at recent cases and enforcement trends, including proposed amendments to China’s commercial bribery law, the use in U.S. courts of compelled...more

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