Investment bank Lehman Brothers has suspended two London equities traders after identifying "issues" with some of their trades, a spokesman for the bank said, adding their suspension is not related to fraud.
"Two traders in our European equities division have been suspended," the spokesman said on Thursday.
"Normal internal controls identified the issues," he added, "The matter is not related to fraud." The spokesman declined to elaborate on the reasons for the suspensions.
Lehman's shares were trading down 4.1 percent at $46.12 at 1619 GMT.
Global banks are re-checking their risk control systems following French bank Societe General's (SOGN.PA: Quote, Profile, Research) rogue-trader scandal to make sure they are properly armed against illegal trades.
Lehman Brothers topped European equity trading with a 17.4 percent market share in the first two months this year, according to Thomson Financial. Trading accounted for 33 percent of the Wall Street investment bank's revenues in 2007.
"Sums involved are not material but the matter is being reviewed in line with our usual procedures," the spokesman added.
Just over a month ago, SocGen revealed 4.9 billion euros ($7.51 billion) of losses which it blamed on a single 31-year-old trader, Jerome Kerviel.
The losses have made the Paris-based bank a potential takeover target.
Zurich-based rival Credit Suisse (CSGN.VX: Quote, Profile, Research) last month suspended some traders, in a "normal control procedures", after finding pricing errors on its books.
Credit Suisse at the time said it appeared the suspended
traders had been slow to adjust the value of their portfolios to fast-moving developments in volatile markets
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