BoE may have known about forex rigging

Bank of England officials may have given the okay to traders who allegedly manipulated foreign exchange benchmarks, reports the Financial Post.

The Post says a group of traders approached the bank and told it they were “sharing information about aggregate client orders ahead of the fix of key forex benchmarks.” The paper cites two anonymous sources familiar with the matter.

Read: Banks suspend traders amid wider market rigging probe

In response, the bank reportedly told the traders they weren’t breaking any rules. Many of the traders involved have now been suspended as part of a global probe into exchange manipulation.

Read more here.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.