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Former Trader Tom Hayes Sentenced to 14 Years for Libor Rigging
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Judge Jeremy Cook at Southwark Crown Court in London, England, hands out a 14 year jail sentence to Tom Hayes for Libor benchmark rate manipulation while working at UBS and Citigroup. He says the sentence is meant "to send a signal" to the banking industry. Cook's message to the UK banking industry- "Probity and honesty are essential, as is trust."
The UK's Serious Fraud Office and the prosecution of Tom Hayes for Libor rate manipulation
08/03/2015
Tom Hayes was given a 14 year jail sentence by a judge in London for manipulation of the LIBOR benchmark rate while at UBS and Citigroup banks. Southwark Crown Court jury convicted Hayes on all 8 counts.
Grouped Articles
Former Trader Tom Hayes Sentenced to 14 Years for Libor Rigging
Wall Street Journal 08/04/2015
Former Citigroup and UBS Trader Convicted in Libor Case
New York Times 08/03/2015
U.K. Serious Fraud Office Plans More Libor Charges in the Fall
Wall Street Journal 08/05/2015
The Unraveling of Tom Hayes Part Five The Trial
Wall Street Journal 09/18/2015
The Unraveling of Tom Hayes Part Three The U-Turn
Wall Street Journal 09/18/2015
The Unraveling of Tom Hayes Part Two The Gambler
Wall Street Journal 09/14/2015
The responsibility of regulators in the manipulation of LIBOR rates by banks
05/29/2008
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Wall Street Journal 07/15/2011
U.K. to Criminalize Manipulation of Financial Benchmarks
Wall Street Journal 12/23/2014
Former Trader Tom Hayes Sentenced to 14 Years for Libor Rigging
Wall Street Journal 08/04/2015
The Unraveling of Tom Hayes Part Four The Waiting Game
Wall Street Journal 09/16/2015
The Unraveling of Tom Hayes Part Two The Gambler
Wall Street Journal 09/14/2015
Bank Scandal Turns Spotlight to Regulators
New York Times 07/09/2012
Britain's Serious Fraud office and its investigation into improper LIBOR rate setting by Barclays and other banks
05/29/2008
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Wall Street Journal 07/15/2011
Dutch Bank Settles Case over Libor Deceptions
New York Times 10/29/2013
Osborne Promises More Regulatory Powers to Split Up British Banks
New York Times 02/04/2013
U.K. to Criminalize Manipulation of Financial Benchmarks
Wall Street Journal 12/23/2014
Former Trader Tom Hayes Sentenced to 14 Years for Libor Rigging
Wall Street Journal 08/04/2015
U.K. Serious Fraud Office Plans More Libor Charges in the Fall
Wall Street Journal 08/05/2015
UBS $1 billion legal settlement with global regulators for manipulating LIBOR rates
05/29/2008
Grouped Articles
Wall Street Journal 07/15/2011
Dutch Bank Settles Case over Libor Deceptions
New York Times 10/29/2013
After Fraud, the Fog Around Libor Hasnât Lifted
New York Times 10/31/2013
U.K. to Criminalize Manipulation of Financial Benchmarks
Wall Street Journal 12/23/2014
Former Trader Tom Hayes Sentenced to 14 Years for Libor Rigging
Wall Street Journal 08/04/2015
UBS in Talks Over $1 Billion Penalty
Wall Street Journal 12/14/2012
Barclays $450 million settlement for manipulating the LIBOR rate and other settlements
05/29/2008
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Wall Street Journal 07/15/2011
Barclays's Hector Sants Takes Leave of Absence for Stress
Wall Street Journal 10/16/2013
Dutch Bank Settles Case over Libor Deceptions
New York Times 10/29/2013
After Fraud, the Fog Around Libor Hasnât Lifted
New York Times 10/31/2013
Europe Sets Big Fines In Settling Libor Case
New York Times 12/04/2013
U.K. to Criminalize Manipulation of Financial Benchmarks
Wall Street Journal 12/23/2014
Swiss Bank UBS and the $1.5 billion LIBOR rate manipulation settlement
05/29/2008
Grouped Articles
Wall Street Journal 07/15/2011
Dutch Bank Settles Case over Libor Deceptions
New York Times 10/29/2013
U.K. to Criminalize Manipulation of Financial Benchmarks
Wall Street Journal 12/23/2014
Former Trader Tom Hayes Sentenced to 14 Years for Libor Rigging
Wall Street Journal 08/04/2015
UBS Admits Rigging Rates in 'Epic' Plot
Wall Street Journal 12/20/2012
Wall Street Journal 05/29/2008
The Labor party, Conservative party, and the Bank of England in the fallout from the manipulation of LIBOR rates by Barclays
05/29/2008
Grouped Articles
Wall Street Journal 07/15/2011
U.K. to Criminalize Manipulation of Financial Benchmarks
Wall Street Journal 12/23/2014
Former Trader Tom Hayes Sentenced to 14 Years for Libor Rigging
Wall Street Journal 08/04/2015
U.K. Serious Fraud Office Plans More Libor Charges in the Fall
Wall Street Journal 08/05/2015
The Unraveling of Tom Hayes Part Five The Trial
Wall Street Journal 09/18/2015
The Unraveling of Tom Hayes Part Five The Trial
Wall Street Journal 09/18/2015
Strong action from Britain to protect LIBOR, ICE Brent and other benchmark rates in 2015
12/23/2014
"The integrity of the City of London matters to the economy of Britain," said Chancellor of the Exchequer, George Osborne, as legislation now makes it a criminal offense for individuals to manipulate benchmark rates, punishable with 7 years in prison.
Grouped Articles
U.K. to Criminalize Manipulation of Financial Benchmarks
Wall Street Journal 12/23/2014
Former Trader Tom Hayes Sentenced to 14 Years for Libor Rigging
Wall Street Journal 08/04/2015
U.K. Serious Fraud Office Plans More Libor Charges in the Fall
Wall Street Journal 08/05/2015
The Unraveling of Tom Hayes Part Five The Trial
Wall Street Journal 09/18/2015
The Unraveling of Tom Hayes Part Five The Trial
Wall Street Journal 09/18/2015
The Unraveling of Tom Hayes Part One Rain Man in Trouble
Wall Street Journal 09/18/2015
The WSJ's May 2008 study that set off the LIBOR investigation
05/29/2008
The analysis by the WSJ using credit default insurance showed banks were lowballing the rate they reported daily to the British Bankers Association as part of a 16 bank panel. The apparent intention was to protect perception of the bank's health during the financial crisis. Investigations later showed the other motive was to increase trading profits at banks such as UBS. WSJ analysis showed banks rates clustering together showing possible collusion in setting the rates. Banks which lowballed the most in the WSJ analysis were Citigroup, HBOS, UBS, WestLB, JP Morgan Chase. West LB, Citigroup and HBOS, were considered banks with higher risks during the financial crisis. The LIBOR or London Interbank Offered Rate helps determine the rate for trillions of dollars of transactions in financial markets ranging from home securities, home and auto loans to derivatives and swaps and is critical for the integrity of financial markets worldwide.
Grouped Articles
Wall Street Journal 07/15/2011
U.K. to Criminalize Manipulation of Financial Benchmarks
Wall Street Journal 12/23/2014
Former Trader Tom Hayes Sentenced to 14 Years for Libor Rigging
Wall Street Journal 08/04/2015
U.K. Serious Fraud Office Plans More Libor Charges in the Fall
Wall Street Journal 08/05/2015
Wall Street Journal 05/29/2008
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