Bank of America dragged into FX lawsuit

Money On Hook

Bank of America’s Merrill Lynch was the latest bank to be dragged into a rash of foreign-exchange-related unfair dismissal lawsuits after a former trader sued the bank.

Bloomberg News reports that Daniel Stalker, a director on the foreign exchange trading desk in London, filed a case for unfair dismissal, claiming he was fired for whistle-blowing. A closed-door mediation hearing took place at central London employment tribunal Friday.

Stalker joins at least seven other foreign exchange traders to sue their former employers following widespread dismissals during the benchmark-rigging scandals. Cases involving Citigroup, HSBC, Lloyds Banking Group and Royal Bank of Scotland are underway or pending.

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

BofA Dragged Into Currency Exchange Lawsuits as U.K. Trader Sues

Cutting Jobs Globally, HSBC Set to Add 4,000 in 4 Years in China

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts