Fed bans Ex Barclays trader Michael Weston from working in banking industry

Banned over FX manipulation

The Fed has banned ex Barclay trader Michael Weston from working in the banking industry.

As per the Fed:

• Weston used chat rooms to discuss FX benchmark fixes
• Engaged in unsafe and unsound practices
• Banned for FX manipulation
• Weston agreed to Fed's enforcement action

The Fed fined Barclays $342 million in May 2015 for engaging in unsafe and unsound practices in the FX market.

For information about Barclays FX troubles from the past, click HERE.