Skip to main content
RSS Feed

Articles tagged by Barclays

Barclays FX Trader Heads to Employment Tribunal Former Barclays FX trader Chris Ashton is to appear at a hearing at the East London employment tribunal on July 13 against the bank, which he is suing for unfair dismissal, confirms his lawyer Sara George. Ashton is suing Barclays for ...
Three Former Barclays Traders Found Guilty Over Libor Three former Barclays traders have been found guilty by a London court of conspiring to manipulate the London Interbank Offered Rate (Libor) benchmark interest rate. According to a statement from the UK Serious Fraud Office (SFO) Monday, trader Jay Merchant, ...
The Hat-Trick? Third Citi Trader Wins Unfair Dismissal Case Citi is on the wrong end of a third unfair dismissal trail according to sources familiar with the matter who say that Rob Hoodless has won his claim against the bank. In an email statement, Hoodless says, “The East London ...
Former Barclays FX Trader's Hearing Begins Preliminary hearings of former Barclays FX trader Chris Ashton’s unfair dismissal and whistleblowing claim against the bank started on Tuesday at the East London employment tribunal. Judges at the tribunal said they will decide by Wednesday whether to take ...
‘Cartel’ FX Trader Ashton’s Whistleblowing Claim “Absurd”, Says Former Barclays COO Chris Ashton’s claim of whistleblowing against Barclays, where he was formerly head of spot FX voice trading, is “absurd”, according to Justin Bull, the bank’s former global chief operating officer. Bull - who co-chaired Ashton’s disciplinary hearing ...
Four Barclays Veterans Depart FX Team Sources tell Profit & Loss that four veterans of Barclays’ FX division have been made redundant by the bank as part of wider cuts across the business. Vincent O'Sullivan, Marek Robertson, Marcello Cavalcanti and Martin Richards have all left the bank ...
Banks Facing Challenging Conditions, Rising Uncertainty in Q2 The second quarter of 2016 saw mixed performances amongst some of the major banks, against a background of increasing uncertainty and challenging trading conditions in currency markets. Goldman Sachs posted a 20% year-on-year increase in net revenues in what it calls Fixed ...
Former Barclays’ CEO Links Up with Currencies Direct Former Barclays’ CEO Antony Jenkins has joined non-bank FX and international payment services provider Currencies Direct as non-executive chairman. He is going to focus on advancing Currencies Direct’s digital offering and expanding its international footprint, the company says. “Currencies ...
Barclays Settles Libor Claim in US New York Attorney General Eric Schneiderman has announced a $100 million, 44-state settlement with Barclays Bank and Barclays for “fraudulent and anticompetitive conduct” involving the manipulation of USD Libor (London Interbank Offered Rate) and other benchmark interest rates. During the period ...
Fed Issues $1.2m Fine, Seeks Banking Ban for Ex-Barclays Trader The US Federal Reserve Board has announced that it will seek a $1.2 million fine and a permanent ban on employment in the banking industry for Chris Ashton, a former FX trader at Barclays.
Third Trader Sues Barclays A third FX trader fired by Barclays is suing the bank for unfair dismissal, adding to the growing number of similar cases being brought against banks. Mark Clark, who worked on the bank’s FX trading desk since joining in 2010 from Citi is having his claim heard at the East London Employment Tribunal on September 27 according to court records. The same tribunal has already heard claims from former Barclays’ traders Jack Murray and Chris Ashton, although a decision has yet to be announced in either.
Ashton Loss a Rare Win for Banks in FX Cases News that Chris Ashton, the former Barclays FX trader dismissed by the bank over misconduct allegations, has lost his claim for unfair dismissal represents the first outright win for a bank facing such a claim and, potentially, draws a line in the sand over how participation in foreign exchange chat room activities is viewed. Bloomberg News reports that Ashton lost his claim in a ruling dated September 19 as the judge found Barclays took “appropriate action” due to his “gross misconduct”.
Want to Opt Out of BARX Last Look Settlement? Your Deadline is March 30 Participants in a class action lawsuit that alleges Barclays abused last look on its proprietary trading platform BARX have until March 30 2017 to opt out of the proposed $50 million settlement. According to a release by law firm Scott+Scott, US District Judge Lorna Schofield will hear the details of last February’s settlement between the class – led by Axiom Investment Advisors – and Barclays on July 18 2017 at a Fairness Hearing. This hearing will consider whether to approve the proposed settlement, the proposed plan of distribution, and class counsel's application to the court for an award of attorneys' fees, expenses, and a service award to class plaintiff.