The U.K. Serious Fraud Office announced Oct. 18 it has closed its investigation into manipulation of the London Interbank Offered Rate (LIBOR), ending a probe that began more than seven years ago.
“Following a thorough investigation and a detailed review of the available evidence, there will be no further charges brought in this case,” the SFO said. The SFO makes charging decisions on the basis of the test in the Code for Crown Prosecutors, which specifies the evidence must support a realistic prospect of conviction and that the prosecution must be in the public interest. “In this instance, after an extensive and careful examination of the available evidence, the SFO found that no further charges passed the Code Test,” the agency said.
