When U.S. regulators were investigating the massive rate-rigging scandal in foreign exchange markets, they encountered a disquieting reality: Some of the bankers who were implicated in the wrongdoing had quietly left their jobs and subsequently been hired by other banks.

The findings focused attention on what is known as the “rolling bad apple problem” — miscreants leaving one job in the industry and, because there is no black mark on their public record, moving on to another.

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