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ARTICLE · 18 AUGUST 2013

LIBOR Manipulation Press Coverage - August 2013

Clyde & Co
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Until now, LIBOR investigations have targeted the institutions involved rather than individual traders, but this is about to change.

United KingdomCriminal Law
James Cooper
James Cooper
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Investigations and regulator action

Investigations

Until now, LIBOR investigations have targeted the institutions involved rather than individual traders, but this is about to change. In early July 2013, the SFO stated it had worked closely with the FSA (now FCA) during its investigation into LIBOR and was considering whether it was both appropriate and possible to bring criminal prosecutions. It was also aware of investigations in other jurisdictions and was working with the relevant authorities. Shortly after this statement the SFO charged one trader and two former brokers with conspiracy to defraud in relation to the manipulation of LIBOR rates - see more below under 'Litigation'.

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