Ex-Barclays FX Trader Barred from Banking, Fined $1.2m for Currency Rigging

[kreslik.news]

The U.S. Federal Reserve has fined and banned for life the former Barclays FX trader Christopher Ashton, a member of a chatroom that called itself ‘The Cartel’ where bank traders allegedly manipulated foreign-exchange rates.

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The Fed imposed a $1.2 million fine on the former trader and said that it prohibits the organizations from re-employing or otherwise engaging individuals who were involved in unsafe and unsound conduct.

Before joining The Cartel, Mr. Ashton served as global head of the FX spot-trading business at Barclays in London where he allegedly used ... (read more)