LIBOR Media Advisory Note: Strictly Not For Publication

From the Attorney General’s Office:

Media Advisory Note: strictly not for publication
17 October 2013

Current LIBOR trials

Former Citigroup and UBS Trader Tom Hayes has been charged with eight counts of conspiracy to defraud. These charges arise from the on-going LIBOR investigation. A Plea and Case Management Hearing is listed for the 21st October at Southwark Crown Court. Two other defendants charged with LIBOR related offences, Terry Farr and James Gilmour, will also be appearing on that date.

Editors and publishers are reminded of their responsibilities under the Contempt of Court Act 1981.The Attorney General is conscious that this case will be of particular interest to City and financial journalists who may be less familiar with the law of contempt then colleagues who more regularly report on the criminal courts. The Attorney General asks that editors and publishers take steps to ensure all online and hard copy editions of their publications avoid any commentary or reporting which may pose a risk of breaching the Contempt of Court Act.

In particular, the Attorney General draws attention to the risks in publishing material that asserts or assumes, expressly or implicitly, the guilt of an accused person or that otherwise interferes with the administration of justice in this case – such as by pre-empting the decision of the trial Judge or Judges as to the evidence to be called before the jury.

Editors and publishers should take legal advice to ensure they are in a position to fully comply with the obligations they are subject to under the Contempt of Court Act 1981.

Ironically you can read the names that the Wall Street Journal were forced to pull from their website by a Court Order in the bastion of freedom that is China. They are in the print edition of the WSJ Asia Edition..

Wall Street Journal Censored by UK Judge

wsj-censored

You can read the judge’s order here. Extraordinary that we can’t report the names of alleged LIBOR fraudsters, this is against the principles of open justice and freedom of the press. Even more extraordinary is that it was the Serious Farce Office that invited the defendants to apply for reporting restrictions. The prosecuting authority encouraged the defendants to seek anonymity. Bonkers…



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Quote of the Day

David Cowling, the BBC’s head of political research, in an internal memo…

“It seems to me that the London bubble has to burst if there is to be any prospect of addressing the issues that have brought us to our current situation. There are many millions of people in the UK who do not enthuse about diversity and do not embrace metropolitan values yet do not consider themselves lesser human beings for all that. Until their values and opinions are acknowledged and respected, rather than ignored and despised, our present discord will persist. Because these discontents run very wide and very deep and the metropolitan political class, confronted by them, seems completely bewildered and at a loss about how to respond (“who are these ghastly people and where do they come from?” doesn’t really hack it). The 2016 EU referendum has witnessed the cashing in of some very bitter bankable grudges but I believe that, throughout this 2016 campaign, Europe has been the shadow not the substance.”

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