Tom Hayes’ Industry Ban Dropped by FCA After UK Conviction Tossed
Tom Hayes following a Bloomberg Radio interview in London, on July 24.
Photographer: Betty Laura Zapata/BloombergThe UK Financial Conduct Authority dropped an attempt to ban former Libor trader Tom Hayes from the banking industry days after the country’s top court overturned his criminal conviction.
In a statement Friday, the FCA said that the conviction had formed the basis of its civil case against Hayes. The regulator also said it was dropping a similar suit against Carlo Palombo, another trader whose conviction was overturned along with Hayes’.