The Bank of England missed as many as 50 instances of suspected market abuse that have since been handed over to financial regulators, its governor has admitted.
Mark Carney revealed that procedures introduced since the Bank was accused of turning a blind eye to currency manipulation a year ago had uncovered 50 possible cases of misconduct, 42 of which have been passed on to the Financial Conduct Authority. “The FCA is investigating a number of those,” Mr Carney said.
The governor was testifying to MPs on the Treasury select committee over the Bank’s role in the foreign exchange- rigging scandal. He also revealed that Martin Mallett, its former chief forex dealer, had been fired for “at least twenty” breaches of protocol over eight years.
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