Federal Reserve Board announces termination of enforcement action with Heartland Bank and denies motion to void fine and permanent ban on former foreign exchange (FX) trader

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Federal Reserve Board announces termination of enforcement action with Heartland Bank and denies motion to void fine and permanent ban on former foreign exchange (FX) trader

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The following press release was published by the Board of Governors of the Federal Reserve System on Jan. 23, 2018. It is reproduced in full below.

The Federal Reserve Board on Tuesday announced the termination of the enforcement action listed below: Heartland Bank, Little Rock, Arkansas, PCA Directive dated Aug. 15, 2017 Terminated Jan. 18, 2018 The enforcement action from August 2017 can be found here and other enforcement actions can be searched for here.

The Board on Tuesday also announced that it had denied a motion to void the $1.2 million fine and permanent ban on employment in the banking industry against Christopher Ashton, the former Global Head of Foreign Exchange (FX) Spot Trading at Barclays Bank PLC, in connection with the manipulation of FX pricing benchmarks. In May 2017, the Board banned and fined Ashton.

For media inquiries, call 202-452-2955.

Source: Board of Governors of the Federal Reserve System

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