Royal Bank of Scotland puts trader on leave

A third foreign exchange trader at the Scottish bank has been put on leave, while authorities continue to investigate alleged foreign exchange rate manipulation, reports the New York Times.

The trader, who is based in London, is not accused of wrongdoing. Nor is the bank.

Read: Banks suspend traders amid wider market rigging probe

Deutsche Bank and Citigroup have both fired traders during the course of to the scandal, while more than a dozen traders at leading global banks have been suspended or have resigned, reports the Times.

Though no bank or individual has been charged with rule breaking, the New York State Department of Financial Services and Britain’s Financial Conduct Authority are looking into allegations that traders from many institutions worked together to manipulate exchange rates.

Read more here.

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