Former Threadneedle trader investigated for alleged rogue trade

A former trader at Threadneedle is being investigated after an alleged rogue trade was stopped by the asset manager.

The Financial Times and Telegraph report that the City of London police and FSA are investigating an 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.”

Threadneedle says the trade, which is reported as being worth about £94.6m, did not go through and no client money was affected by the incident.