The U.K. Serious Fraud Office requested 19 million pounds ($32 million) in extra funding partly to cover penalties relating to wrongly reclaimed taxes by the agency, according to its director David Green.
Martin Wheatley, who leads London’s top markets watchdog, says he wishes he could bike to and from his home in Greenwich, a borough along the Thames. He can’t because he’s lugging too much paperwork around.
After promising to clean up the U.K. Serious Fraud Office’s record of failures, the collapse of one of his own cases puts the agency’s director under more pressure than ever to score a victory in its Libor probe.
The number of people at the U.K.’s Serious Fraud Office working on a criminal investigation into manipulation of the London interbank offered rate has been doubled to 60, the director of the agency, David Green, said in a speech today.
U.K. fraud prosecutors’ will announce significant developments next year in a probe into fees paid by Barclays Plc to Qatar’s sovereign-wealth fund for a 2008 fundraising that helped the bank avoid a bailout.
The U.S. Supreme Court will take up a challenge to part of President Barack Obama’s health-care law by companies claiming a religious exemption to the requirement that they provide birth-control coverage for employees.
U.K. prosecutors are poised to arrest former traders and rate setters at UBS AG, Royal Bank of Scotland Group Plc and Barclays Plc within a month for questioning over their role in the Libor scandal, a person with knowledge of the probe said.