The Serious Fraud Office (SFO) is considering bringing criminal prosecutions against bankers involved in the Libor interest rate rigging scandal, it emerged today (2 July). Chancellor George Osborne announced last week that the Financial Services Authority (FSA) was not able to impose criminal sanctions for the manipulation of Libor - the benchmark interest rates used in financial markets around the world - due to the limited scope of its criminal powers.
July 02, 2012 at 11:51 AM
1 minute read
The original version of this story was published on Legalweek
The Serious Fraud Office (SFO) is considering bringing criminal prosecutions against bankers involved in the Libor interest rate rigging scandal, it emerged today (2 July).
Chancellor George Osborne announced last week that the Financial Services Authority (FSA) was not able to impose criminal sanctions for the manipulation of Libor – the benchmark interest rates used in financial markets around the world – due to the limited scope of its criminal powers.
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