Reports: Barclays suspends 6 currency traders amid market-rigging probe
11/2/2013LONDON — The BBC, the Financial Times and other outlets say Barclays bank has suspended six traders amid an investigation into whether international currency markets were rigged.
Barclays, Britain’s second-largest bank, revealed on Wednesday that it was the subject of an investigation by regulators in Britain and elsewhere over “possible attempts to manipulate certain benchmark currency exchange rates.”
The bank said it was cooperating with the investigation.
Barclays spokeswoman Aurelie Leonard declined to comment today on reports that the bank had suspended traders.
Other banks including JPMorgan Chase, Citigroup and Switzerland’s UBS have also said they are being investigated over currency trading.
The investigation is the latest bad news for Barclays, which overhauled its top management after being fined $453 million for manipulating a key global interest rate and other wrongdoing.