RBS suspends two more employees in forex market investigation

 
Clare Hutchison25 February 2015

Royal Bank of Scotland has suspended two more employees in relation to an internal investigation about alleged rigging of currency markets.

The bank was one of six banks fined a total of £2.8 billion last year for failing to stop traders attempts to manipulate currency markets.

It launched an internal review into its foreign exchange division after accepting the penalty.

The taxpayer-backed bank has already suspended three employees, who were among six involved in a disciplinary process.

Overall, the conduct of more than 50 former and current traders is under scrutiny.

"We can confirm that two members of staff have been suspended as part of the on-going FX investigation at the bank," the bank said.

It declined to identify the employees in question.

The Serious Fraud office has launched a criminal investigation into the allegations of manipulation in the $5.3 trillion-a-day currency market.

RBS trader Paul Nash, who is also on suspension, was arrested last year.

Additional reporting by Reuters

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