Ex-Barclays trader sues amid foreign exchange probe


A former Barclays currency trader has sued the bank for unfair dismissal and whistle-blowing after he was suspended amid a probe into potential foreign-exchange manipulation.

Bloomberg News reports that a preliminary hearing in Chris Ashton’s case is scheduled at a London employment tribunal on July 13, according to court records. Ashton declined to comment when reached by phone and his lawyer didn’t respond to a call and text message.

The former co-chief foreign currency dealer in London joins a long list of currency traders to sue their former employers after banks, embroiled in the foreign-exchange market rigging scandal, made widespread firings in the wake of $10bn in fines.

“Barclays does not comment on matters which are subject to on-going litigation except to confirm that we will be vigorously defending this case,” a bank spokesman said in an e-mail.

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

Ex-Barclays ‘Cartel’ Trader Ashton Sues for Unfair Dismissal

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