Broker barred despite acquittal on SFO LIBOR charges

By Neasa MacErlean

A broker who was acquitted in LIBOR manipulation charges brought by the Serious Fraud Office has been prohibited from taking on any regulated function by the FCA. The regulator banned Terry Farr of Martin Brokers on the grounds that he “acted dishonestly and lacked integrity” when he organised nine ‘wash deals’ for which there was “no legitimate commercial purpose”.