FCA v. Terry John Farr (benchmark submission rigging, 2019)
Judgment entered
Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.
In 2019, the Financial Conduct Authority obtained a judgment against Terry John Farr, alleging conduct this library classifies as benchmark submission rigging and wash trading. The release does not state a monetary figure that we were able to extract. A parallel criminal matter is referenced in the release.
The record
| Agency | FCA |
|---|---|
| Date filed | 2019-05-29 |
| Date resolved | 2019-05-29 |
| Status | judgment |
| Asset class | fx |
| Criminal parallel | Yes: acquitted (Farr (two Yen LIBOR conspiracy counts; the notice says its own findings concern different conduct)) |
| Defendants | Terry John Farr |
| Techniques | Benchmark submission rigging , Wash trading |
What was ordered
- Civil penalty
- —
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- —
- Alleged gain
- —
What is alleged to have happened
the Financial Conduct Authority announced this matter on May 29, 2019. The respondents named are Terry John Farr (1 individual, 0 entities).
This library tags the matter as benchmark submission rigging and wash trading, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.
The conduct is recorded against fx.
The release references a parallel criminal proceeding. Where a criminal case exists, the civil and criminal outcomes are recorded separately, because they resolve on different standards of proof.
For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.
What technique is this, and how does it work?
This action is tagged with 2 techniques in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.
- Benchmark submission rigging — see how it works, what statute it engages, and every other action tagged the same way.
- Wash trading — see how it works, what statute it engages, and every other action tagged the same way.
Timeline
- 2019-05-29 FCA final notice
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.
Related actions
Other actions in the library sharing at least one technique tag with this one.