Libor Rigging Can Be Prosecuted Under U.K. Law, SFO Says
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U.K. fraud prosecutors will investigate the manipulation of Libor and other interest rates after deciding that existing British criminal law covers the conduct involved.
U.K. law provides the basis to bring charges, David Green, the director of the Serious Fraud Office, said today in a statement. The U.K. joins the U.S. in criminally investigating how derivatives traders and rate submitters colluded to rig the London Interbank Offered Rate, or Libor.