Bank probe reveals ‘series of misjudgments’

A Bank of England internal probe revealed a “series of misjudgments” by a senior member of staff including the leaking of a confidential document and sending of inappropriate emails, MPs in the UK were told by governor Mark Carney yesterday.

Chief currency dealer Martin Mallett was sacked after being found to have made at least 20 such errors, following an investigation into what the bank knew about the foreign exchange rate-rigging scandal, Mr Carney said.

The failings prompting his dismissal were not related to the central findings of the report — which the governor described as his failure to “escalate” any awareness of “the potential of wrongdoing” in the market.