The Supreme Court is poised to rule on the cases of two former City traders jailed for rigging interest rates, amid concerns raised by senior politicians that there may have been a series of miscarriages of justice.

If the traders are successful in their application - which is opposed by the Serious Fraud Office (SFO) - it could lead to the quashing of all remaining convictions secured in nine criminal trials.

In criminal trials on both sides of the Atlantic from 2015 to 2019, 19 were convicted of conspiracy to defraud and nine were sent to jail.

As they served time, evidence emerged that central bankers and government officials across the world, including a top adviser at 10 Downing Street at the time, had pressured banks such as theirs to engage in very similar conduct to what they were jailed for – but on a much greater scale.

No central banker or government official was prosecuted.