Bnp paribas and bank of america suspends forex traders - Bank of America - Wikipedia
MS provides you a series of completed forex service. My organisation is being served by a Relationship Manager: BNP chief operating officer to go amid US probe. BNP Paribas' head of forex spot-trading suspended. Ex-Barclays trader pleads guilty in U.
Questrade Bestellung Typ Loc; Trading. BNP Paribas bill for forex breaches.
US settlements over forex rigging scandal opens. Wednesday's settlement is part of a long-running probe by.
Barclays, Citi helped South Africa with forex. The Commission launched the probe in April. The UK is a major, global centre for BNP Paribas with over 7, employees and a significant presence across our two core businesses: The other traders, Thulani Kunene and Premal Bhana, are still employed by the bank but it is understood an internal investigation cleared them of any wrong-doing.
Elaine Naidoo was also cleared but has left. At Investec, only one bank employee, Clint Fenton, is implicated and he remains employed.
Inside sources confirmed his presence in the Investec offices this week. Investec spokesperson Ursula Nobrega said Fenton was in the office but was not trading.
It is also up to the tribunal whether the fine will be levied for just the past financial year, or for every one of the eight years in which misconduct allegedly occurred. For the individuals, the worst sanction they face in South Africa is to lose their jobs.
But there options futures strategies also a chance the United States authorities could come after anerica. Anthony Crane, a partner of the law firm Dentons South Africa, said the banks would certainly take disciplinary action against an employee who deliberately or negligently breached the Competition Act and the employee could be fired.
Martin Versveld, a partner in the competition practice at Webber Wentzel, said there was no risk that ane individuals faced criminal charges. The US has charged three traders based in the United Kingdom in other, related cases of foreign-exchange rigging.
options futures strategies There is also a possibility that the implicated banks will settle with the commission for an amount that is likely to be far less than the penalties sought.
The CitiBank Group has agreed to pay a Rmillion settlement fee and will provide witnesses to assist in the prosecution of the other banks.
Versveld said the terms of the settlement have to be confirmed by the tribunal. It found no evidence of options futures strategies or the manipulation of any foreign exchange benchmarks, but cases of forex dealers sharing confidential client information were noted.
It said South Africans with licences to deal in forex appeared to have acceptable governance arrangements, but noted some policies had been implemented recently as a result of an increased focus on market conduct globally. It noted that no institution took responsibility edward ji forex monitoring market conduct in the domestic forex market.
Gnp this would be addressed by the pending financial sector regulation, Twin Peaks. It advised that some provisions of the Financial Markets Act should be extended to include forex trading.
Create Account Lost Your Password? Toggle navigation Toggle profile.
Nobrega said Investec was bound by its duty to treat its customers and its employees fairly. But the banks did not routinely monitor the communications of their foreign exchange dealers.
She holds a master's degree in journalism and media studies from Wits University. Her areas of interest range from energy and mining to financial services and forexx.
When she is not poring over annual reports, Lisa can usually be found pottering about the kitchen. Investec Competition Commission Absa Bank financial services. Politics Jan Gerber De Lille to sue Gauteng businessman for defamation.
Cape Town mayor Patricia de Lille on Sunday announced a campaign to clear her name, including suing Anthony Faul R1-million for defamation. National Athandiwe SabaJacques Coetzee The future of the middle class is bleak.
Cost pressures, stagnant wages and a bleeding economy are pushing many people into poverty.
Description:Landes is BAML s head of spot trading for Europe, Middle East and Africa while de Groot is global head of. FX rates are calculated are compiled by using data.