Agency Bond-Rigging Probe Is Said to Be Dropped by Britain's FCA
- FCA told four traders at center of probe the case was closed
- Probe was into possible manipulation of $9 trillion SSA market
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The U.K. Financial Conduct Authority has closed a two-year investigation into possible manipulation of the $9 trillion agency bond market, according to people with knowledge of the situation.
The regulator wrote to traders at the center of the probe, who worked at lenders including Bank of America Corp. and Credit Suisse Group AG, in September to inform them of the decision, according to four people, who didn’t want to be identified because the letters aren’t public. A U.S. Justice Department probe is still open, two of the people said.