The Serious Fraud Office (SFO) has announced that it has closed its investigation into allegations of fraudulent conduct in the foreign exchange market.

The SFO has concluded, based on the information and material it has obtained, that there is insufficient evidence for a realistic prospect of conviction.  Whilst there were reasonable grounds to suspect the commission of offences involving serious or complex fraud, a detailed review of the available evidence led the SFO to conclude that the alleged conduct, even if proven and taken at its highest, would not meet the evidential test required to mount a prosecution for an offence contrary to English law.  It has further been concluded that this evidential position could not be remedied by continuing the investigation.

View SFO closes Forex investigation, 15 March 2016