Royal Bank of Scotland has suspended two more employees during the course of its investigation into the forex scandal

Royal Bank of Scotland has suspended two more employees during the course of its investigation into the forex scandal

27 February 2015, 06:11
Sergey Golubev
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The bank, which declined to comment on the identity of the workers, said today: "We can confirm that two members of staff have been suspended as part of the on-going FX investigation at the bank."

RBS, which is 79 per cent owned by the Government, launched an internal review into its forex activities after it was one of six major international banks fined a combined £2.6 billion last month for failing to stop traders rigging the foreign exchange markets.

The bank’s chief executive, Ross McEwan, said at the time: "To say I am angry would be an understatement. We had people working at this bank who did not know the difference between right and wrong."

The Times reported that the Financial Conduct Authority is escalating its supervision of foreign exchange traders in the City after the discovery of further misconduct by the US Department of Justice.

It said the latest cases relate to the rigging of emerging market currencies, which did not form part of the FCA's internal investigation.

The DoJ, Federal Reserve and New York's financial regulator are still probing banks over foreign exchange trading.


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