Sir, Regarding your article “Critics blast slow pace of market-rigging inquiry” (Mar 6), these critics must be presumed unfamiliar with the nature of Serious Fraud Office investigations, which generally take significantly longer than the average. The kind of cases that come to the SFO (requiring investigators, accountants, prosecutors and other experts working together), are complex and time-consuming even when the institutions or individuals involved are co-operating. Large quantities of data and records must be obtained and analysed. Financial processes and decisions must be reconstructed. Individuals must be interviewed as witnesses or suspects.
The Bank of England referred its concerns to us on November 20. To expect a result by March is profoundly unrealistic in practice.
David Green, QC
Director, Serious Fraud Office