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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 Libor and Euribor. It followed a 2025 Supreme Court ruling that legal errors made similar convictions unsafe.
Why it matters
The ruling further unwinds the legal legacy of one of the biggest post-financial-crisis banking scandals.
Background
Libor and Euribor were benchmark interest rates used to price trillions in loans and derivatives. Rate-rigging revelations from 2012 led to fines for banks and prosecutions of traders.
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
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