By Jenny Strasburg
British police arrested a man Friday morning at his suburban
home east of London in connection with the government's probe into
rigging of the foreign-exchange markets, according to a person
familiar with the matter.
It was the first arrest known to be made in the continuing
investigation. In a statement, the Serious Fraud Office confirmed
an arrest of a man in the town of Billericay, in Essex. The agency
said the arrest, made in conjunction with London police, was
connected to an SFO investigation but didn't identify the person or
provide other details. A London police spokeswoman declined to
provide details.
The man arrested formerly worked at Royal Bank of Scotland Group
PLC, another person familiar with the matter said.
In November, six U.S. and European banks agreed to pay about
$4.3 billion to resolve allegations that they tried to manipulate
the foreign-exchange market. The settlements, which came after long
investigations, were with regulators in the U.S., U.K. and
Switzerland.
An arrest in the U.K. is a preliminary step, and won't
necessarily lead to a criminal charge. The arrest was earlier
reported by the Guardian.
Write to Jenny Strasburg at jenny.strasburg@wsj.com
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