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UK: Rabobank traders exit amid FCA investigation

 |  October 20, 2014

Two Rabobank traders, initially placed on leave earlier this month following an internal investigation, are reportedly no longer employed by the bank.

The two traders, Gary Andrews and Chris Twort, were found to be in violation of internal Rabobank policies related to the disclosure of client trades. Andrews and Twort were reportedly found to have conversed in chat rooms with a trader from a rival bank.

Rabobank’s investigation follows the Financial Conduct Authority’s prove into foreign exchange market traders. Reports say Rabobank has sent the FCA the findings of its internal investigation.

The financial watchdog reportedly sent a notice to six banks with preliminary findings of its investigation; settlements could be reached as soon as next month, unnamed sources say.

Full content: MarketWatch

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