WASHINGTON (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.
Little could not be immediately reached for comment.
Reporting By Patrick RuckerEditing by Chizu Nomiyama