More traders suspended in currency probe

Two more British traders have been suspended as the probe into exchange rate manipulation continues on both sides of the Atlantic, the New York Times reports.

Read: Banks suspend traders amid wider market rigging probe

The head of spot foreign exchange trading in Europe for Bank of America Merrill Lynch is now on leave. So is his counterpart at BNP Paribas.

More than 20 traders at several international investment banks have been fired or suspended. None of them have been accused of wrongdoing by regulators, says the Times. That includes one suspended employee at the Bank of England who may have known about the manipulation.

Read more here.

Also read:

U.S. regulators probe banks’ currency trades

BoE may have known about forex rigging

Staff

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