Bank of England tackles forex scandal

Bank of England boss Mark Carney is to revamp the organisation’s structure amid fears that it could be implicated in a foreign-exchange-rate rigging scandal. Regulators worldwide are investigating whether investment banks profited by manipulating the $5.3 trillion global currency market.

Last week, the central bank announced that it had suspended a staff member and had launched an investigation into whether internal controls were broken, or manipulation had been overlooked. Now it will appoint a fourth deputy governor to head up its markets and banks operations and review its approach to “market intelligence”.

Carney also said he had no plans [...]

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