Rabobank traders said suspended after probe

Pointing The Finger

Rabobank Groep, the bank fined $974m last year for rigging interest rates, is said to have suspended two London-based foreign-exchange traders after an internal investigation into their dealings.

Bloomberg News reports that two people were placed on leave of absence as a result of the currencies inquiry, Rabobank spokesman Hendrik Jan Eijpe, based in the Dutch city of Utrecht, said by e-mail.

Rabobank, the second-biggest Dutch bank, was fined in October 2013 by global regulators over the manipulation of interest rates. The bank started a broader review as it seeks to strengthen internal compliance procedures, which were found to be flawed by the Dutch central bank in its investigation into the London interbank offered rate,or Libor, and Euribor submission process between 2006 and December 2012.

The Dutch central bank is aware of the bank’s currency review, Tobias Oudejans, a spokesman for the Amsterdam-based regulator said by telephone.

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Rabobank Suspends Two London Currency Traders After Probe

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