Some aren't taking it lying down.
As banks try to clean up trading floors beset by benchmark-rigging scandals, not all fired workers are leaving quietly. London’s specialist employment courts offer a chance to get justice, recover lost bonuses, or just hurl dirt at former colleagues.
Bloomberg News reports that six cases involving former currency traders at Citigroup, HSBC and Lloyds Banking Group have emerged in the last month. Some of the traders say they were unfairly swept up in clear-outs of currency desks at the centre of regulatory probes into the manipulation of foreign-exchange markets.
More than 30 traders were fired, suspended or put on leave over the last two years since the foreign-exchange investigations started, with about $10bn in fines levied against banks globally.
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