February 16, 2018 / 8:03 PM / 3 months ago

Fed sanctions former Barclays trader for alleged abuse

WASHINGTON, Feb 16 (Reuters) - The Federal Reserve on Friday said it was seeking to permanently bar a former Barclays Bank employee from the banking business for allegedly manipulating foreign exchange trades.

The Fed sought to bar Peter Little from the industry and fine him $487,500 for allegedly using chatrooms to wrongly coordinate trades.

The action follows a Fed action in May 2015 when officials fined Barclays $342 million for unsafe and unsound practices related to foreign exchange markets. (Reporting By Patrick Rucker Editing by Chizu Nomiyama)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below