The Serious Fraud Office (SFO) could file charges as early as 21 October, according to Bloomberg Law. The SFO has not yet made public these plans but is under pressure to follow the US authorities in taking decisive action. Three former employees of ICAP, the inter dealer broker, were the subject of a filing of charges earlier this week by the US Department of Justice. 

Pressure on SFO

'The laying of charges against ICAP employees in the U.S. will increase pressure on the SFO to act,”  Peter Lodder, a former chairman of the Bar Council of England and Wales told Bloomberg Law. 'With a new director, and a significant change of approach in favour of commencing criminal prosecutions, the SFO will not wish to appear to be a step behind the U.S. authorities.'