As fresh details continue to emerge about the Libor fixing scandal that has already claimed the head of Bob Diamond, the American chief executive of British bank Barclays, everybody, it seems, is ...

In a recent alert, we highlighted the United Kingdom (UK) benchmark manipulation cases of Tom Hayes and Carlo Palombo from 2015 and 2019, respectively. Hayes was the first banker to be jailed in the ...

The London Interbank Offered Rate (LIBOR) was a major global interest rate benchmark, which was replaced by SOFR. Learn about ...

Libor is calculated for multiple terms each day by the British Bankers’ Association based on submissions received from 16 global banks. The four highest and the four lowest submissions are disregarded ...

Ex-Barclays swaps trader Ryan Reich ’04 is currently being prosecuted by the United Kingdom’s Serious Fraud Office for manipulating the London Interbank Offered Rate (LIBOR) for personal profit ...

Michael C. Miller, a partner at Steptoe & Johnson, and Lara Romansic, of counsel at the firm, discuss rescission, which may be a potential solution to the determination of damages caused by LIBOR ...

The scandal over the London Interbank Offered Rate (LIBOR) —one of the most important benchmarks for interbank lending—has been heating up, as governments investigate apparent collusion to manipulate ...

LIBOR once served as the foundation of global lending, affecting everything from credit cards to corporate loans. For over 30 years, these benchmark interest rates determined borrowing costs for ...

No doubt at some point a full calculation will be forthcoming. It is important to remember that many banks are involved in the scandal, and that for every long derivative there’s a short, so there ...

The first person to be charged as part of the investigation in to LIBOR manipulation has been found guilty on eight counts of conspiracy to defraud and sentenced to 14 years in prison. Former ...

The Securities and Exchange Commission has agreed not to let accusations of LIBOR manipulation lead to the revocation of Deutsche Bank’s well-known seasoned issuer status, a streamlined process for ...

In an update earlier last year, we highlighted the ongoing legal developments in connection with key cases surrounding the London InterBank Offered Rate (LIBOR) manipulation scandal with respect to a ...