The FT reports:
- Barclays, Citigroup and Royal Bank of Scotland have frozen bonuses across swaths of their foreign exchange trading teams pending internal investigations into possible manipulation
- bonus suspensions are targeted on the wider team rather than just the traders under investigation
- bonuses will be withheld until reviews are concluded
- bonus freeze has affected traders in London, New York and elsewhere, stretches beyond spot trading desks to derivative trading units
The Financial Times (gated, but can be read with a free registration).
