Arrests soon in rate-fix scandal

International inquiries into the Libor-fixing scandal are soon to result in arrests, it was reported yesterday, but UK authorities still appear to be lagging their international peers.

Reuters said prosecutors in the US had contacted lawyers of suspects to inform them criminal charges and arrests could come in the next few weeks. Regulators in Germany are scrutinising the activities of Deutsche Bank amid allegations of Libor fixing.

But in the UK, the Serious Fraud Office will only decide at the end of this month what are the potential criminal offences allegedly committed, although it has said there is enough evidence to launch an inquiry.