Suspended traders prepare to fight back

Abstract

Traders suspended as a result of the global regulatory probe into foreign exchange markets are preparing for a fight to clear their names, as evidence related to their suspensions becomes clearer, and details suggest in some cases the disciplinary action may have been unwarranted, a source told FX Week. One senior trader put on leave earlier this year was subjected to a 10-hour interview, with one bank's lawyers going through transcripts from chat messages and emails. The investigation was triggered by a comment to a client, informing them the bank was a large seller of a currency pair, which according to the bank amounted to information sharing and led to this person's suspension.