SFO To Investigate LIBORGATE

The Serious Fraud Office (SFO) has announced that it will hold an investigation into LIBOR rate fixing.

It will not say which companies and individuals it is investigating:

"The SFO Director David Green QC has today decided formally to accept the LIBOR matter for investigation."

An SFO spokesperson has confirmed to the BBC that a dedicated case team had now started work.

The Serious Fraud Office is a government department responsible for investigating and prosecuting serious and complex fraud. The SFO is headed by the Director (David Green QC) who exercises powers under the superintendence of the Attorney General. These powers are derived from the Criminal Justice Act (1987).