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
On 31 July 2018, the Administrative Division of the High Court of England and Wales blocked the extradition of Stuart Scott to the United States. As the second case this year in which the High Court has blocked extradition to...more
The U.K.'s Serious Fraud Office has announced that two former bankers have been found guilty by a jury of conspiracy to defraud for manipulating the Euro Interbank Offered Rate (EURIBOR). One other former banker has been...more
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
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
Alleged Flash Crasher's Formal Indictment Provides More Details Regarding His Purported Spoofing - The US Department of Justice filed a formal indictment against Navinder Singh Sarao in a US federal court in Chicago on...more
On Monday, Aug. 3, Tom Hayes was convicted and sentenced to 14 years of imprisonment for his part in the manipulation of the London Interbank Offered Rate (Libor). The result has attracted attention because it was the first...more