Court of Appeal quashes five former Barclays traders' rate-rigging convictions after Hayes ruling
The Court of Appeal of England and Wales on October 7 quashed the Libor and Euribor conspiracy-to-defraud convictions of former Barclays traders Jay Merchant, Jonathan Mathew, Alex Pabon, Philippe Moryoussef and Colin Bermingham. The appeals, referred by the Criminal Cases Review Commission, argued their juries received directions like those the UK Supreme Court found wrong when it quashed Tom Hayes's conviction in July 2025; the Serious Fraud Office did not oppose them.