Lloyds Bank starts internal forex trading review

LONDON Wed Nov 6, 2013 6:27am EST

A pedestrian is seen passing the head office of the Lloyds Banking Group in central London in this August 5, 2009 file photograph. REUTERS/Stefan Wermuth/Files

A pedestrian is seen passing the head office of the Lloyds Banking Group in central London in this August 5, 2009 file photograph.

Credit: Reuters/Stefan Wermuth/Files

LONDON (Reuters) - The UK's Lloyds Banking Group (LLOY.L) said it has opened an internal probe into its own currency trading after regulators started investigating possible manipulation in the market.

"We are aware that a number of regulatory and enforcement authorities are investigating foreign exchange trading and, as a result, we believe it is prudent to review our own foreign exchange trading over recent years and have commenced such a review," the bank said in a statement on Wednesday.

It said it would report anything it finds to the relevant authorities and assist them as requested.

Several banks, including Barclays (BARC.L) and UBS (UBSN.VX), have said they were cooperating with regulators investigating possible manipulation.

At this stage, Lloyds is not part of the investigation, a person familiar with the matter said.

(Reporting by Steve Slater; Editing by Alexander Smith)

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