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Barclays faces investigation into currency trading manipulation

Barclays faces investigation into currency trading manipulation

Barclays has become the latest bank to admit it is facing an investigation into whether its staff were involved in attempts to manipulate global foreign exchange markets.

The bank confirmed it was reviewing trading activity by its employees for several years, up to as recently as this August, as part of an international inquiry into alleged rigging of currency markets.

Antony Jenkins, chief executive of Barclays, declined to comment further on the probe and said he could not discuss “any ongoing discussions with the regulator”.

The Financial Conduct Authority, the UK’s market regulator, is currently one of several organisations currently in the early stages of an investigation into the potential rigging. Royal Bank of Scotland has said it is cooperating with the inquiry.

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