Life as Libor Traders Knew It Seen as Abusive by Investigators

March 2, 2012

Jordan A. Thomas warns traders involved in wrongdoing about potential correctional measures

Individuals and firms found to have engaged in wrongdoing would likely face demands from regulators to return any illicit profits, said Jordan Thomas, a former enforcement attorney at the U.S. Securities and Exchange Commission who now advises whistle-blowers at Labaton Sucharow LLP in New York. They may also be fined and would be forced to improve their business practices to prevent a similar situation arising again, he said.