Bloomberg reports that more than 30 traders from 11 firms have been fired, suspended, taken leaves of absence or retired since October of last year when government probes of potential forex manipulation started picking up. The worst hit banks, according to Bloomberg, are UBS and Barclays. Supposedly some of the departures are due to personal reasons. Compared to the Libor scandal, the forex scandal has played out quite differently. Fires and suspensions are occurring before any settlements have been reached, thus leaving out a great amount of detail as to what these banks have uncovered that led to the departures. The media is not reporting any rumored settlements either, so it looks like we will have to wait a while longer.
No comments:
Post a Comment