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article image'Senior Bank of America forex trader suspended'

By AFP     Mar 6, 2014 in Business

Bank of America suspended a senior foreign exchange trader in the latest ripple from a global probe of foreign exchange market manipulation, a person familiar with the matter said Thursday.

BofA suspended London-based Joseph Landes, who oversees spot trading for Europe, Middle East and Africa.

Other leading banks, including Citigroup and Deutsche Bank, have also fired or suspended traders as regulators investigate whether banks conspired to fix the huge foreign exchange market.

In late February, Bank of America said in a securities filing that it was cooperating with government investigations in North America, Europe and Asia into its foreign exchange trading operations as part of their probes into the overall foreign exchange market.

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