Peter Finnigan QC successfully defended one of the brokers, Noel Cryan, accused of conspiring to rig the benchmark LIBOR rate.
The SFO alleged that a convicted trader, Tom Hayes made millions of pounds for his employers by persuading the brokers to influence rates to favour his trading positions. The trial came more than seven years after U.S. regulators first examined how LIBOR rates were set, sowing the seeds of a global inquiry that culminated in authorities fining some of the world's biggest banks and brokerages $9bn, charging 21 men and overhauling how market benchmarks such as LIBOR are policed.
Counsel was instructed by Fiona Gavriel of Janes Solicitors.
The case was reported in the media by Bloomberg and the Guardian
Read media report here.
Peter Finnigan KC