WASHINGTON, May 19 (Xinhua) - U.S. Federal Reserve announced on Friday it has imposed a 1.2 million-U.S. dollar fine and a permanent ban on employment in the banking industry against a former Barclays foreign exchange trader.
The Fed said it imposed the penalties after the trader, Christopher Ashton, failed to respond to court proceedings.
The central bank charged him in June 2016 with unsafe and unsound practices related to his use of chat rooms to coordinate forex trading and disclose confidential customer information to traders.
The action followed the Fed's enforcement actions in May 2015 against Barclays for unsafe and unsound practices related to its compliance and control failures in the forex market, said the Fed.
Barclays was required to pay 342 million U.S. dollars in penalties at that time.
