Convicted Libor rigger Tom Hayes could be out of prison as soon as next year, according to people involved with his case. This means he would serve much less than half of his 11-year sentence.

Prison authorities have told representatives of Hayes, the first trader to be jailed for rigging the industry benchmark, that due to the terms of his original sentence he is eligible for release on January 31, 2021 – five and a half years into his term that began in 2015.