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Tom Hayes sues FCA over lifetime ban

Former trader was barred from financial industry after trying to manipulate the London interbank rate

Former trader Tom Hayes arrives at Southwark Crown Court in London in a 2015 file photo
Former trader Tom Hayes arrives at Southwark Crown Court in London in a 2015 file photo Photo: Getty Images

Tom Hayes, a former bank trader convicted in the UK of interest-rate rigging, is suing the country’s regulator over a lifetime ban from the financial industry, The Wall Street Journal reports.

The Financial Conduct Authority issued the ban last year following Hayes’s 2015 criminal conviction on fraud charges. Hayes’s lawsuit was received by the tribunal on December 23 and an administrative court will hear the case, according to a court listing.

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