Lawyers slam SFO disclosure failings for ‘miscarriage of justice’ in Tom Hayes Libor conviction April 27, 2018 The legal team for convicted Libor trader Tom Hayes has slammed the Serious Fraud Office (SFO) for a series of disclosure failings they say led to a miscarriage of justice and his wrongful conviction. Hayes’s lawyer Karen Todner has written to parliament’s Justice Committee urging it to probe the SFO as part of an inquiry [...]
“People can judge me on whatever basis they like” – departing SFO director David Green says final farewell April 13, 2018 The view of Trafalgar Square surrounding David Green’s office is one he will miss. The departing director of the Serious Fraud Office (SFO) has enjoyed the architecture for the six years that he has been in, and reshaped, the role that has attracted – perhaps surprisingly – a fair amount of political drama. Green has [...]
Five traders from Barclays and Deutsche Bank to appear in first Euribor-rigging trial tomorrow April 8, 2018 The first trial into manipulations of the Euro Interbank Offered Rate (Euribor) will kick off tomorrow as five former traders stand accused of manipulating the Brussels-based benchmark at the height of the financial crisis. Four former Barclays traders – Philippe Moryoussef, Carlo Palombo, Colin Bermingham and Sisse Bohart – and ex- Deutsche Bank trader Achim [...]
Former Deutsche Bank trader charged with Euribor rigging in SFO probe pleads guilty March 16, 2018 A former star trader who was once considered one of Deutsche Bank’s most successful bankers has pleaded guilty in a Serious Fraud Office (SFO) probe into Euribor manipulation. Christian Bittar, who was among six traders charged in the first SFO case that focused on the Brussels-based benchmark, pleaded guilty to the offence on 2 March. News [...]
Ex-Barclays trader Alex Pabon loses appeal against conviction for Libor rigging March 13, 2018 Former Barclays trader Alex Pabon has lost an appeal against his Libor rigging sentence after a court found that doubts surrounding the credibility of an expert witness did not merit his conviction being overturned. Pabon was among three traders to be convicted by the Serious Fraud Office (SFO) in 2016 for their roles in [...]
City firms on hiring spree as salaries look set to keep rising December 1, 2017 City firms are set to embark on a hiring spree next year as the need to deal with new rules and technology trumps the ongoing political uncertainty over the Brexit process. More than two-thirds of financial services firms plan to recruit staff over the next 12 months, with the majority planning to bring permanent staff [...]
The Financial Conduct Authority says banks will back Libor until 2021 November 24, 2017 Libor will continue with investment banks’ backing until it is phased out in 2021, the Financial Conduct Authority announced today. Today, the FCA said it had been working with banks to finalise an agreement for them to remain on the panels they currently submit to until 2021 in order to ensure a more orderly transition. [...]
Libor will end in 2021 says Britain’s top financial regulator July 27, 2017 The infamous Libor benchmark lending rate is set to be dropped in 2021, the UK’s top financial regulator said today. Financial Conduct Authority (FCA) boss Andrew Bailey said the London interbank offered rate (Libor) will no longer receive the backing of regulators as the industry tries to move to a more reliable marker. Libor, which [...]
Cleaning up culture in the financial sector and holding senior managers to account is not a witch hunt, insists Andrew Bailey, chief of City watchdog March 16, 2017 Making sure financial sector bosses take responsibility for wrongdoings is not a witch hunt, the chief of the City watchdog said today. Andrew Bailey, chief executive of the Financial Conduct Authority (FCA), said the financial crisis had caused many people to question whether head honchos in the City were really taking responsibility for their actions, but stressed this [...]
City watchdog reveals plans to slap convicted Libor trader Tom Hayes with industry ban March 6, 2017 NULL