RBS said to suspend another FX trader, agrees $275m mortgage settlement

RBS building

Royal Bank of Scotland has suspended a senior currency trader in London, bringing to three the number of traders suspended by the bank since a global investigation into allegations of rigging reference exchange rates was launched last year.

Reuters reports that the trader was put on leave earlier this week and has now been suspended, a source familiar with the matter said.

This follows the suspension of two other traders in October last year. On Tuesday RBS said it was reviewing rules on currency dealers trading with their own money.

RBS suspends FX trader, bringing total to three

The news agency also reports that RBS has agreed to pay $275m to resolve a U.S. lawsuit accusing it of misleading investors in mortgage-backed securities, lawyers for the plaintiffs said on Wednesday.

The accord, which must be approved by a federal judge in New York, is the third-largest settlement in a U.S. class action against banks that packaged and sold mortgage securities that were at the heart of the 2008 financial crisis.

RBS agrees to 164 million pounds mortgage-debt settlement

image: © Mark Ramsey

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