LONDON Royal Bank of Scotland currency trader Paul Nash has become the first individual arrested in connection with a global inquiry into alleged manipulation in the foreign exchange market, sources familiar with the matter said on Thursday. Nash, who was suspended by RBS in , was named by the sources as the man arrested in Billericay, southeast England, on Dec.

One of the sources said his arrest came only days before he emigrated to Canada. Nash emigrated to Canada on Christmas Day and has rented out his family home, the source said. His arrest was not by appointment, as is typical in such cases, but was an "arrest and raid", the source added.

Forex scandal - Wikipedia

Nash, who has not been charged with any offence, appeared at Westminster Magistrates' Court on Dec. These included that he would reside at a specified address in British Columbia. Britain's Serious Fraud Office SFO said only that a year-old man had appeared at the London court on Dec. The increasingly aggressive agency, which is preparing for the trials this year of individuals alleged to have manipulated global benchmark interest rates, said last July that it might file the first charges in the high-profile inquiry this year.

About 30 forex traders have been put on leave, suspended or fired as prosecutors and regulators continue to examine allegations of wrongdoing in the world's largest market. RBS, a state-backed British lender that has been reviewing the conduct of more than 50 current and former traders, said in December that six employees could face disciplinary action.

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The other banks to settle British and U. Department of Justice, Federal Reserve and New York's financial regulator are among those still investigating banks over foreign exchange trading in an inquiry that has put the largely unregulated market on a tighter leash and accelerated the push to automated trading.

LONDON The Serious Fraud Office has defied critics who accuse it of failing to pursue top executives by criminally charging Barclays and four former senior managers, a month after the ruling party pledged to abolish the crime-fighting agency.

LONDON Bank of England Governor Mark Carney doused speculation that he might soon back higher interest rates, telling bankers on Tuesday that he first wanted to see how the economy coped with Brexit talks in coming months.

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