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FCA bans former Deutsche Bank trader

The FCA has fined former Deutsche Bank trader Guillaume Adolph over misconduct concerns four years after he was first issued a warning notice.

Adolph is also banned from any further employment or engagement in the financial services industry, with the regulator finding that he was knowingly involved in Deutsche Bank’s failure to observe standards of market conduct.

Between July 2008 and March 2011, Adolph was found to have taking his own trading positions into account when acting as a Swiss Franc and Japanese Yen Libor submitter for the German bank. He also made requests for other submitters to adjust their trading positions to benefit his own, and improperly agreed with a trader at another Libor panel to make submissions taking into account their requests.

The FCA says that criminal investigation of the individuals led to a delay in its own actions.

It says: “On 21 January 2014, the FCA issued Mr Adolph with a warning notice, but proceedings were stayed due to the ongoing criminal investigation of the Serious Fraud Office into certain individuals who formerly worked at Deutsche Bank.”

Adviser banned by FCA hits back with petition

Adolph was fined £180,000 for the misconduct.



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