Traders facing penalties from British regulators over their involvement in rigging Libor may avoid being fined after the U.K. Financial Conduct Authority missed a deadline to take action, three people with knowledge of the matter said. The FCA pulled at least one fine it planned to levy after conceding the three-year statute of limitations for civil enforcement actions had passed, according to one of the people, who spoke on condition of anonymity. At least two more traders are preparing to challenge the penalties they’re facing, saying the regulator missed the deadline, two people said. The development is a blow to ... (full story)