RBS FX trader Paul Nash arrested in Forex rigging probe


In December, the RBS FX trader who was arrested in connection to the Fx probe by the serious Fraud Office has been identified as Paul Nash, a pound spot trader suspended by RBS in October 2013. He holds an infamous record as the first person in the world to be arrested by authorities as part of an ongoing probe into whether the world’s largest financial markets was rigged.

rbs (1)A Westminster Magistrates’ Court hearing held in December revealed Paul Nash. He is alleged to have planned to leave the UK for Canada a few days before he was arrested. According to the court records, Mr. Nash  appeared at Westminster Magistrates' Court on Dec. 23 but has not been charged haven been arrested by authorities on suspicion of fraud by abuse of position with issues arising over variations to his bail conditions, a court official confirmed. This included that he would reside at a specified address in British Columbia.

Trade Forex safely with an AtoZ approved broker:

Capital.com
96/100
Capital.com Review
Visit Site
xm.com
95/100
xm.com Review
Visit Site
XTB
94/100
XTB Review
Visit Site

Late last year, RBS confirmed that six FX traders involved in the currency manipulation case were to face internal disciplinary action, with three of the six already under suspension and 18 bankers are to be exempted from bonus payments until the investigations are completed.

The Fx manipulation case was taken very seriously by various regulators, with George Osbourne Chancellor of the Exchequer declaring that the case will be taken up as a criminal offense. The RBS settled fines with the three regulators for $634 million as one of the six banks fined a combined $4.3 billion by regulators last November for failing to stop traders trying to manipulate $5 trillion currency a day markets.

Should you trade Forex on your own at all?

Before you start trading the FX market, you'll want to read this.

Our in-house trading expert Dr Yury Safronau, PhD in Economic Sciences, gives you daily his best forex, metals, and cryptocurrencies to buy and sell signals right now.

His trading strategies which are based on non-linear dynamic models have achieved more than 65 000 pips of profits since 2015. And right now there are some very strong buy and sell signals across several markets you don't want to miss.

Want to see which ones?

Leave a Reply

Your email address will not be published. Required fields are marked *