BofE currency chief dealer fired for breach of internal policies

Departure

The Bank of England’s chief currency dealer was dismissed after at least 20 violations of the institution’s internal policies were unearthed amid a review into whether central bank staff knew about currency rigging.

Bloomberg News reports that Martin Mallett was fired in November for breaching BOE policies on confidentiality and information technology, Governor Mark Carney said Tuesday.

They were uncovered during an investigation into allegations central bank staff knew currency traders shared private client information with counterparts at other firms to rig key foreign-exchange benchmarks.

'This is an employee who, in other respects, had served the bank well and had served his community well in terms of charity', Carney told members of the Treasury Committee. 'But with a senior officer of the bank, with multiple misjudgments, when you have those facts in front of you, you have to act'.

To access the complete Bloomberg News article hit the link below:

BOE Chief Dealer Fired After 20 Internal-Policy Violations

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