Individuals to come under fire in FX cases within a year

Outcome of first Libor trial to have major impact


The prison sentence handed down at the beginning of July to an individual trader for rigging the Libor benchmark has bolstered FX investigators' confidence in successfully convicting traders for market manipulation.

"The decision in the Hayes case will, in many ways, embolden the prosecutors in knowing there is a reasonable prospect of conviction at the end of the trial," says Michael Ruck, a senior associate at law firm Pinsent Masons and a specialist in financial services litigation.

"It will

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