Former Threadneedle trader investigated for alleged rogue trade
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A former trader at Threadneedle is being investigated after an alleged rogue trade was stopped by the asset manager.
The Financial Times and the Telegraph report that City of London police and the Financial Services Authority (FSA) are investigating the individual, who is claimed to be a junior trader formerly with the asset manager’s investment arm.
A statement from Threadneedle says: “In August 2011, our systems stopped a suspicious attempted trade. The matter was immediately reported to the authorities and the individual involved was subsequently dismissed.” (article continues below)
Threadneedle stresses that the trade, which is reported as being worth about $150m (£94.6m) did not go through and no client money was affected by the incident.
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