The latest act in the saga of the troubled Archer family will be played out today when a son of the disgraced peer is expected to be banned from working in the City.
A week after his father was jailed for perjury and perverting the course of justice, James Archer, 27, will be punished by regulators over his role in a share-dealing scandal.
Mr Archer was a member of the "Flaming Ferraris", a group of young traders with a gift for self-promotion. But for Mr Archer, the publicity was soon followed by his downfall after details emerged of a share manipulation scheme in Sweden.
Mr Archer, along with two of his colleagues, was suspended in 1999 over the alleged manipulation of the share price of the wood pulp producer Stora Enso. Mr Archer claimed to have hit the wrong button on his computer keyboard.
Fellow "Ferrari" David Crisanti is also expected to be expelled but another colleague, Adrian Ezra, is reportedly reapplying to return to work after being cleared of two allegations.
Mr Archer had been considered part of one of the most successful teams in the City while working at the US bank Credit Suisse First Boston. The "Flaming Ferraris" title was cooked up in a PR stunt and named after their favourite cocktail.Reuse content