Barclays Terminates Eight Foreign Exchange Employees Amid Probes

Barclays Plc is terminating eight foreign exchange employees after authorities uncovered corruption in the unit spanning at least four years.

The U.K. bank has already dismissed four of them in the past month, including its global head of spot trading in London, New York’s Department of Financial Services said in a statement Wednesday. The regulator has ordered the bank to “take all steps necessary” to remove a vice president on the emerging markets trading desk in New York, two spot traders and a director of foreign-exchange sales in the city.