Ads Top

RBS traders suspended in forex probe

Source BBC News@ tienganhvui.com


RBS signRBS is among several banks contacted by regulators in the foreign exchange investigations


Royal Bank of Scotland (RBS) has suspended two traders in connection to a growing investigation into the possible manipulation of foreign exchange rates.


The news follows reports that London-based executives at three other major banks have been placed on leave.


Regulators in the UK, US and Switzerland are looking into whether banks colluded to set exchange rates.


The global foreign exchange market is worth more than £3tn a day.


London is the most important centre for the market, accounting for about 40% of all foreign exchange trading.


The reports are that executives at Citigroup, JP Morgan and Standard Chartered have agreed to be placed on leave, but none has been accused of any wrongdoing.


RBS declined to comment. It is among several banks believed to have been contacted by regulators in recent weeks about foreign exchange dealing.


Regulators, including the UK's Financial Conduct Authority, are looking at allegations traders used instant messaging services to fix rates - similar to the Libor-fixing scandal which resulted in big fines for major banks in 2012.


On Wednesday Barclays became the latest bank to confirm it had launched an internal probe into its foreign exchange trading.





Đăng ký: Tieng Anh Vui

No comments:

Powered by Blogger.