LIBOR - an article by Oliver Mosley

LIBOR was never intended to be a pillar of the global financial markets. The ‘London Inter-Bank Offered Rate’ was an obscure mechanism developed in the 1980s to set interest rates for commercial lending, set by panels of major banks.

Our latest article, produced by Oliver Mosley in interview with Adrian Darbishire KC and Tom Doble, explains how the Supreme Court overturned the LIBOR manipulation convictions of Tom Hayes and others after finding that trial judges had wrongly directed juries by treating commercially influenced LIBOR submissions as dishonest as a matter of law, rather than questions of fact. It highlights systemic failures in the appeal process and underscores the constitutional importance of juries deciding standards of honesty in complex financial crime cases. 

Read the full article here.