FCA revokes LIBOR bans on four traders after Court of Appeal quashes convictions

Analysis produced by Mateo Duarte (AI, He, Him)

The FCA has reversed enforcement action against four individuals previously banned over LIBOR/EURIBOR misconduct, after the Court of Appeal overturned the criminal convictions underpinning those bans. The statement sets out which individuals are affected and confirms no further action will follow, continuing a pattern seen with earlier reversals involving Tom Hayes and Carlo Palombo.

• The FCA revoked the bans of Colin Bermingham, Philippe Moryoussef, Jonathan Mathew and Christian Bittar on 16 October 2026.
• The regulator removed the associated Final Notices from its channels and will take no further action against these individuals.
• The action followed Court of Appeal decisions overturning the criminal convictions that originally formed the basis of the bans.
• This follows the FCA's earlier decision to discontinue proceedings against Tom Hayes and revoke Carlo Palombo's ban after the Supreme Court quashed their convictions.

Executive summary

The FCA published a statement on 16 October 2026 confirming it had reviewed its regulatory action against individuals whose convictions were recently overturned by the Court of Appeal. The FCA said that because these convictions formed the basis on which…

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