Serious Fraud Office in the spotlight


The Serious Fraud Office has closed its two-year investigation into allegations of fraudulent conduct in the foreign exchange market. It said there were reasonable grounds to suspect the commission of offences, but insufficient evidence for a realistic prosecution. Meanwhile, the third LIBOR trial has kicked off at Southwark Crown Court. Five former traders from Barclays are accused of conspiring to manipulate the London interbank rate.

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