THE Archer family faced further humiliation yesterday when the jailed peer's younger son was banned from working in the City for his role in a rogue share deal.

The career of James Archer, a member of the self-styled ''Flaming Ferraris'', was in tatters last night after he was found guilty of manipulating the stock market by selling shares in a Swedish company to drive down the price.

The expulsion means he cannot trade in the City, and industry sources said the 27-year-old is unlikely ever to work in the finance sector again.

A week after his father was jailed for four years, the Oxford graduate was deemed not to have the integrity to work in the City.

The regulator, the Securities and Futures Authority (SFA) - a subsidiary of the Financial Services Authority (FSA) - confirmed its decision to expel the former high-flying dealer yesterday morning.

However, it stopped short of imposing a lifetime ban on Mr Archer and two of his co-workers.

Last night, Lady Archer and a spokesman for her husband refused to comment on the latest blow to the family's reputation.

But Michael Crick, Lord Archer's unofficial biographer, said: ''It's like father, like grandfather, like grandson. Jeffrey Archer was jailed for perjury, his father William was accused of fraud and jailed for embezzlement, and now James has been shown to be dishonest.''

A disciplinary tribunal found that Mr Archer and two of his former colleagues should be struck off the SFA's register following an attempt to manipulate the Swedish OMX index - the equivalent of Britain's FTSE 100 - in December 1998.

Mr Archer and two of his seniors at the Credit Suisse First Boston (CSFB) investment bank, David Crisanti and Adrian Ezra, were found to have breached the ''high standards of integrity and fair dealing'' of the authority.

Mr Archer was also found to have breached ''high standards of market conduct'', and all three were sacked by CSFB when the scandal came to light in 1999.

The trio were part of the ''Flaming Ferraris'' group, a gang of immensely successful share traders named after their favourite cocktail and known for their audacious working styles, long hours and flamboyant lifestyle.

The tribunal's statement of findings said Mr Ezra and Mr Crisanti had ''readily joined in the deception designed to cover up Mr Archer's blatant market manipulation'', and it suggested that they might have done so to protect large bonuses due to be paid to their team. The statement said they could have caused ''significant loss'' to others and added: ''Though the circumstances were different from those in which the client places trust in his solicitor, the degree of trust placed on those who deal in the market is just as great.

''If it is betrayed, public confidence is equally undermined.''

A FSA spokeswoman said the three could not appeal against the tribunal's decision, but could reapply to go on the register.

She said expulsions were rare and the most serious penalty the watchdog could impose on individuals, but said they could re-register if backed by a company.

But one industry source said: ''Once you face a punishment like this, for such a high profile case, your employment prospects are limited.

''I would be surprised if any City house would want to touch them, but the Flaming Ferraris were so successful that revenue considerations might prevail.''

Ulf Lindgren, the chief legal counsel for the Stockholm Exchange in Sweden, said: ''Mr Archer was never meant to trade in Sweden, and his possibilities for coming back to this market are rather small.''

The disciplinary tribunal found James Archer guilty of trying to manipulate the closing price of the OMX, and of trading directly on the Swedish Stock Exchange's (SSE) computerised trading system without authorisation. All three individuals were found to have deceived the SSE.

Mr Archer and Mr Ezra have each paid (pounds) 50,000 towards the FSA's costs, whilst Mr Crisanti has paid (pounds) 100,000.

The scandal began in December 1998, when the stock portfolio controlled by Mr Archer would have benefited by a sharp fall in the share price of a Swedish wood pulp company Stora. According to the watchdog, Mr Archer ''tried to manipulate the price downwards by aggressive selling''.

To escape detection, he used a mobile phone to place an order.

Within minutes of his trading activities, the company's share price plunged from 90 Swedish kronor to 60. When the SSE investigated, he insisted he had traded with a genuine buyer.

After further inquiries by the SSE and CSFB in 1999, Mr Archer admitted he had tried to manipulate the company's share price by trading with himself.

A short time later, CSFB sacked Mr Archer and his two co-workers.

Although the trio had been acting on their own initiative, their actions caused huge embarrassment to their employer. In May 1999, the SSE fined CSFB's London office the equivalent of (pounds) 150,000 over the rogue deals.

Lady Archer refused to comment as she left Glasgow yesterday after the second day of a solar energy summer school at Strathclyde University.

JAMES Archer and his friends took the name Flaming Ferraris from the fiery rum cocktail they adopted as their trademark drink. The potent combination of 100% proof rum, Grand Marnier, and green Chartreuse, ignited and drunk through a straw, was the preferred tipple on Friday evenings, which the 16-strong group, average age 26, spent at a South Kensington restaurant Nam Long. Each drink costs a mere (pounds) 13 at the Vietnamese eatery.