FCA revokes bans on traders after convictions overturned

Summarised from 2 outlets · Updated 16 Oct, 11:14 · Archive

The FCA has revoked bans on four City traders after the Court of Appeal overturned their interest-rate rigging convictions.

The Financial Conduct Authority has revoked bans it imposed on four City traders after the Court of Appeal overturned their convictions for rigging Libor and Euribor interest rates. The FCA said on Friday it had "reviewed its regulatory action against individuals whose convictions have recently been overturned by the Court of Appeal" and would "take no further action against these individuals in relation to this matter."

The traders affected are Colin Bermingham, Philippe Moryoussef, Jonathan Mathew and Christian Bittar. A group of five former Barclays traders including Bermingham, Mathew and Moryoussef had their fraud convictions overturned on 7 October after serving jail time for conspiring to rig the now-defunct interest rates in the run-up to the financial crisis. Bittar, who was previously convicted of rigging Euribor, had his conviction overturned on 9 October.

FCA revokes bans on traders after convictions overturned — Image: This is Money

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How it is being reported

City watchdog revokes ban on four cleared Libor traders after convictions were quashedThe City watchdog has revoked bans on four men previously convicted of interest rate rigging after their convictions were quashed by the Court of Appeal.This is Money · 16 Oct, 12:37
FCA revokes ban on Libor traders after court overturns rate-rigging convictionsThe financial watchdog has revoked bans it had placed on four City traders convicted of rigging Libor and Euribor interest rates after the Court of Appeal overturned their convictions. The Financial Conduct Authority (FCA) said on Friday it “has reviewed its regulatory action against individuals whose convictions have recently been overturned by the Court of [...]City AM · 16 Oct, 10:56

In this story: Financial Conduct Authority · Court of Appeal · Colin Bermingham · Philippe Moryoussef · Jonathan Mathew · Christian Bittar · Barclays

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