One Turn
UK court quashes Libor rigging convictions of five ex-Barclays traders
London's Court of Appeal overturned the convictions of five former Barclays traders for manipulating the Libor and Euribor benchmark rates. The ruling follows a 2025 Supreme Court decision that found legal errors made similar convictions unsafe.
Why it matters
The decision further unwinds the legal legacy of one of the defining financial scandals of the post-2008 era.
Background
Libor was a key interest-rate benchmark underpinning trillions of dollars in financial contracts until it was phased out after a rate-rigging scandal emerged around 2012. Several traders were prosecuted in the UK.
The story so far
- UK court quashes Libor rigging convictions of five ex-Barclays traders
- UK court quashes Libor rigging convictions of five ex-Barclays traders
Sources
- AFP ↗October 7, 2026
This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.