By Jenny Park
The world’s biggest banks met with British regulators to discuss
the possibility of settling the investigation into alleged manipulation of the
foreign currency market. The banks’ traders are suspected of manipulating the
foreign exchange rates that served as benchmarks for investments, of colluding
to fix prices, and of front-running customers. With a potential fine of up to
$3.3 billion, this investigation is one of many, which includes criminal
investigations by U.S. and Britain. These investigations resemble an earlier
crackdown on banks, which rigged the benchmark for credit card rates and other
loans, which resulted in billions of dollars in penalties.
Read more here.
0 comments:
Post a Comment