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RBS suspends third trader in Forex rigging probe
by Dylan Lobo on Feb 20, 2014 at 07:50
Royal Bank of Scotland has suspended a third senior currency trader as the investigation into exchange rate rigging intensifies.
According to reports, Ian Drysdale has suspended for four months following the suspensions of colleagues Julian Munson and Paul Nash.
Overall the global investigation into the ‘fixing’ of exchange rates in the $5.3 trillion-day forex market has seen 20 traders in the some of the largest investment banks across the world suspended or fired.
FCA chief executive Martin Wheatley has described the allegations as ‘every bit as bad’ as those in Libor manipulation, which has seen banks pay out $6 billion in fines.
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