Former Barclays trader banned by Fed

Michael Weston routinely engaged in 'unsafe and unsound conduct' between January 2011 and October 2012

US Fed
Federal Reserve: Michael Weston has agreed to the enforcement action

A former Barclays foreign exchange trader was banned permanently from working in the banking industry by the Federal Reserve Board (FRB) on July 24, for engaging in co-ordinated trading with competitors and disclosing confidential information.

Michael Weston, a former FX trader in New York, communicated confidential information of Barclays and its customers to traders at other financial institutions, and used chatrooms on electronic messaging platforms to co-ordinate the trading of certain

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