Royal Bank of Scotland (RBS) has withheld bonuses from 18 of its staff as part of an internal probe into their alleged role in rigging of foreign exchange rates.
The bank is also scrutinising the conduct of more than 50 current and former staff in relation to attempted manipulation of the $5.3 trillion-a-day market.
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As part of the review, the bank has taken disciplinary proceeding against six staff members, three of them who have been suspended as the probe continues.
Last week, a former RBS trader was arrested east of London by City of London police and SFO in currency probe.
RBS head of conduct and regulatory affairs John Pain said: "We are undertaking a robust and thorough review into the actions of the traders that caused this wrongdoing and the management that oversaw it. To be clear, no further bonus payments will be made or unvested bonus awards released until it has concluded."
In October this year, the bank also set aside £400m related to potential costs following investigations into the foreign exchange market. It was one of six banks that were fined £2.6bn last month by the UK, US and Swiss authorities to settle allegations over foreign exchange rigging.
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By GlobalData
