Christopher Ashton, the former global head of the FX spot business of Barclays Bank PLC, was named in an administrative proceeding by the Board of Governors of the Federal Reserve System for his alleged role, from January 1, 2010, through November 1, 2013, in allegedly trading to manipulate foreign exchange currency benchmarks. The FRB seeks to bar Mr. Ashton from associating with any US banking institution and to fine him US $1.2 million.