Goldman Sachs Group Inc. followed competitors in banning traders from using chat rooms involving counterparts at more than one bank as regulators probe alleged currency rigging, said a person with knowledge of the matter.
Traders will still be allowed to communicate one-on-one with dealers at other firms to discuss business, said the person, who asked not to be identified because the decision hasn't been made public. Fiona Laffan, a spokeswoman for the New York-based firm, declined to comment on the move.
Banks are clamping down on traders' use of chat rooms after regulators used them as evidence in their investigations into the manipulation of benchmark interest rates and foreign-exchange rates. JPMorgan Chase & Co., Royal Bank of Scotland Group Plc, and Lloyds Banking Group Plc prohibited multidealer chat rooms this week. Deutsche Bank AG will widen a ban on such forums to include its entire investment bank and transaction-banking business.
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