Ex-UBS Trader Hayes Asks UK's Top Court to Overturn Libor Rigging Conviction [Yahoo! Finance Canada]
Barclays PLC (BCS)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The Supreme Court appeal started Tuesday and lawyers for Hayes and ex-Barclays Plc trader Carlo Palombo argued that it was permissible for a bank to consider its trading advantage when making their submissions for Libor or Euribor. The juries that convicted Hayes and Palombo in 2015 and 2019 respectively were unfairly told by the judge that taking the bank's commercial interest into account was unlawful, lawyers said. The trial judge decided the issue of the illegality of Hayes' conduct and not the jury, Adrian Darbishire, a lawyer for Hayes said. The “fundamentally wrong” directions to the jury “fatally compromised the fairness of the trial.” Hayes and Palombo conspired with others to dishonestly manipulate the process to set
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