Bank of England suspends employee in forex probe

AP News
Posted: Mar 05, 2014 10:39 AM

LONDON (AP) — The Bank of England has suspended a member of staff while it conducts an investigation into allegations that the institution condoned or knew about manipulation in the foreign exchange markets.

The bank said in a statement Wednesday that their review so far has found no evidence that staff colluded in market manipulation or in sharing confidential client information. Even so, the bank says it has suspended an employee while it investigated.

So far, the bank has examined 15,000 emails, 21,000 Bloomberg and Reuters chat room records and 40 hours of telephone recordings.

The bank said in a statement: "No decision has been taken on disciplinary action against any member of bank staff."

The Financial Conduct Authority launched its investigation last year and said it was examining a number of firms.