PARIS, March 6 BNP Paribas, France's
biggest bank, has suspended its head of spot currency trading as
part of a long-running global investigation into possible
currency market manipulation, the Wall Street Journal said on
Thursday, citing unnamed sources.
BNP Paribas declined to comment on the reported suspension
of London-based Bob de Groot. De Groot did not respond to
emailed requests for comment and calls to his office number were
directed to BNP Paribas's communications department.
Regulators around the world - including Britain's Financial
Conduct Authority and the U.S. Department of Justice which
formally opened investigations in October last year - are
looking into possible wrongdoing in the $5.3 trillion-a-day
foreign exchange market.
More than 20 traders have been placed on leave, suspended or
fired by global banks in recent months, including the chief
dealers at currency trading giants Citigroup, JPMorgan
Chase, Barclays and UBS.
The Bank of England suspended a staff member on Wednesday as
part of an internal investigation into what it knew about the
alleged manipulation of reference exchange rates.
The BoE said it had found no evidence that its staff
colluded in any manipulation or shared confidential client
information, adding that it had made the suspension pending a
probe into compliance with its own internal control processes.
The central bank also released minutes that said such
allegations had been raised as long ago as July 2006.