Getting a conviction for Hayes was the least the SFO could do

The UK Serious Fraud Office had every advantage in the prosecution of Tom Hayes – even a taped confession. The next case may not be as easy

Alexander Campbell
Alexander Campbell

The UK Serious Fraud Office should be regarding the August conviction of Libor-rigging trader Tom Hayes with relief rather than triumph. The SFO has brought in the first criminal conviction in the world related to one of the largest and most widespread financial scandals in history – one which has, through regulatory actions by faster-moving agencies such as the Financial Conduct Authority and its counterparts in the US and elsewhere, already cost the banking industry billions in fines and

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