July 14, 2020
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FX Rate 'Rigging' Scandal Boiling Up After UBS - Forbes

2019/05/16 · Five banks, including Barclays and Royal Bank of Scotland, have been fined a total of more than €1 billion (US$1.1 billion) by the European Union for rigging the multitrillion-dollar foreign

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Six banks fined $5.6bn over rigging of foreign exchange

ROYAL Bank of Scotland was hit by a new $669 million (£430m) fine by US authorities today for its part in forex market-rigging that has seen five banks fined a total of $5.7 billion (£3.7bn) for

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Banks raise objections in South Africa's FX rigging case

2020/03/06 · The first related to the so-called ‘Forex - Three Way Banana Split’ cartel and saw the Commission issue a total fine of over €811m to Barclays, RBS, Citigroup and JPMorgan. The second decision addressed the ‘Forex - Essex Express’ cartel and saw the Commission hand a total fine of €257m to Barclays, RBS and MUFG Bank.

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RBS hit with bumper £430m fine for forex rigging

2014/11/12 · Regulators in the UK and US have fined banks more than £2 billion over the foreign exchange (Forex) rigging scandal. The Financial Conduct Authority said it …

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Credit Suisse Scores Legal Win in Forex-Rigging Case - WSJ

2017/09/29 · Deutsche Bank AG agreed to pay $190 million to settle U.S. litigation accusing it of rigging prices in the roughly $5.1 trillion-a-day foreign exchange market.

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Five banks fined more than US$1 billion by EU for rigging

2019/05/16 · Barclays, Citigroup, JP Morgan, MUFG and Royal Bank of Scotland were fined a combined 1.07 billion euros ($1.2 billion) by the European Union on Thursday for rigging the multi-trillion dollar

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JPMorgan to HSBC Face Fines in S. African Rand-Rigging

2015/05/20 · Five major banks – Citicorp, JPMorgan Chase & Co., Barclays PLC, The Royal Bank of Scotland plc and UBS AG – have agreed to plead guilty to felony charges. Citicorp, JPMorgan Chase & Co., Barclays PLC, The Royal Bank of Scotland plc have agreed to plead guilty to conspiring to manipulate the price of U.S. dollars and euros exchanged in the foreign currency exchange (FX) spot …

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Forex fixing scandal: banks fined $6 billion for rigging

2014/11/12 · Read Banks fined for 'free for all culture' that 'allowed' Forex rigging latest on ITV News. All the Economy, Money news. it usually asks a bank to do so on its behalf.

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Cartel banks fined €1bln for forex rigging

Standard Chartered hit with $40m fine for forex rigging. Pedro Gonçalves; @intlinvestment 04 February 2019 Tweet . Facebook . DFS explains that its investigation and an internal review by the bank found that bank traders used a various illegal tactics to maximize profits or minimize losses at the expense of the bank's customers or

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Standard Chartered hit with $40m fine for forex rigging

The bank scored a victory in New York federal court against currency traders who claimed it helped rig foreign-exchange rates. Credit Suisse scores legal win in forex-rigging case . Bank

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Banks fined more than £2bn over Forex rigging scandal

2019/05/16 · Barclays, Citigroup, J.P. Morgan, MUFG and Royal Bank of Scotland have been fined a total of $1.2 billion by EU regulators for rigging the forex market.

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RBS among banks facing £1bn forex-rigging lawsuit

2015/05/21 · Aitan Goelman, the Director of Enforecment at the U.S. Commodity Futures Trading Commission, told Maggie Lake the banks' misconduct is "endemic."

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FX rigging: Barclays feels the heat | Euromoney

2019/07/29 · Barclays, Citigroup, JPMorgan, Royal Bank of Scotland and UBS are facing a £1 billion ($1.23 billion) class action lawsuit over rigging the foreign exchange markets — one of …

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Forex cartel case: Standard Chartered pleads guilty to

2017/09/12 · Currency investors risk leaving money on the table if they don’t submit claims on a $2.1 billion pot of settlement money paid by banks accused of rigging foreign-exchange rates.

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Banks fined for 'free for all culture' that 'allowed

2019/01/29 · Standard Chartered Bank was fined $40 million by the New York Department of Financial Services (DFS) over attempted rigging of Forex markets. In its announcement on the matter, DFS explains that its investigation and an internal review by the bank found that bank traders used a various illegal tactics to maximize profits or minimize losses at the expense of the bank’s customers or …

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RBS and Société Générale Spared from NY FX Rigging Class

2015/05/20 · Bank of America was not sanctioned by the DoJ, but will pay $205m to the Federal Reserve. The DoJ, the DFS and other agencies are continuing to investigate other banks, including HSBC and Deutsche Bank, for alleged forex rigging and settlements in …

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Forex scandal: How to rig the market - BBC News

2017/02/17 · Local and international banks have been accused of rigging the price of South Africa's currency, the rand, by the country's competition watchdog. Global giants Barclays, JP …

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Currency-Rigging Scandal Leaves $2 Billion Up for Grabs

2019/06/25 · How The Forex "Fix" May Be Rigged. the possibility of anyone rigging or artificially fixing currency rates, a growing scandal suggests otherwise. the forex scandal is that Bank …

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NY regulator imposes $40m fine on Standard Chartered Bank

2015/05/21 · Barclays has suffered the biggest blow in the latest round of billion-dollar regulatory fines for rigging currency markets, with a penalty of almost $2.4 billion from five regulators, with the spotlight shifting to FX options. FX rigging: Barclays feels the heat COPYING The bank was found to have not taken adequate steps to address the

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[Responded] Someone at Absa forex rigging currencies

Banks Deny Trading Benefit In UK Forex Rigging Suit. By Bonnie Eslinger. Barclays Bank PLC and others, case number CL-2018-000840, in the High Court of Justice of England and Wales.

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How the Banks Trade Forex - Article contest

Seven banks face EU antitrust fines for forex rigging: sources. Foo Yun Chee. The other three lenders are Royal Bank of Scotland, UBS and a small Japanese bank, the people said. The banks will

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Deutsche Bank in $190 mln currency-rigging settlement

2019/05/16 · The European Commission fined Citigroup Inc., Royal Bank of Scotland Group Plc, JPMorgan Chase & Co., Barclays and MUFG Bank a total of 1.07 billion euros ($1.2 billion) for colluding on FX rates, in practice rigging the foreign exchange market.

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EU regulators fine five banks for forex rigging

2019/07/29 · RBS among banks facing £1bn forex-rigging lawsuit. The civil lawsuit is against Barclays, Citibank, JPMorgan and UBS as well as RBS. Royal Bank …

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Op risk data: forex rigging fines bloat bank losses - Risk.net

The forex scandal (also known as the forex probe) is a financial scandal that involves the revelation, and subsequent investigation, that banks colluded for at least a decade to manipulate exchange rates for their own financial gain. Market regulators in Asia, Switzerland, the United Kingdom, and the United States began to investigate the $4.7 trillion-a-day foreign exchange market (forex

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Seven banks face EU antitrust fines for forex rigging

2015/05/20 · Banks fined billions over forex rigging U.S. regulators hit five global banks with $5.4 billion in penalties Wednesday for trying to rig foreign currency markets in their favor.

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How The Forex "Fix" May Be Rigged - Investopedia

2019/05/27 · The world's largest investment banks — UBS, JPMorgan, Citibank, Barclays and the Royal Bank of Scotland — have been sued for allegedly rigging currency exchange rates.

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Seven banks face EU antitrust fines for forex rigging

2019/07/29 · Barclays, Royal Bank of Scotland and three other banks are being sued by investors for at least £1bn over rigging of the foreign exchange market in a test case for US-style class actions in the

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World's largest banks sued for rigging Australian dollar

5 Banks Fined $91M Over Forex-Rigging Claims. By Joanne Faulkner. Law360, London (June 6, 2019, 10:40 AM BST) -- Five major banks including JP Morgan and Barclays have been fined almost 90 million

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EU fines Barclays, Citi, JP Morgan, MUFG and RBS $1.2

Investors involved in a class action have accused top banks of participating in a scheme to rig the foreign exchange (forex) markets. Two months ago, RBS, SocGen, MUFG Bank Ltd., and UBS Group AG were removed from the suit due to lack of sufficient evidence. The FX Industry Demands the Best – …

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IBA - Finance: Forex rigging case represents greater

2014/10/08 · Now with the news late this September that Union Bank of Switzerland ( UBS) is braced for “material” monetary penalties over allegations that it was involved in rigging FX rates, which it

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Barclays, RBS and other banks face £1bn forex rigging

2019/06/06 · Swiss regulator fines banks for fixing forex trading. The logo of Barclays bank is seen on glass lamps outside of a branch of the bank in the City of London financial district in London

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UK banks fined €1bn by EU for rigging foreign exchange

2019/05/09 · Barclays, Citigroup , HSBC, JPMorgan and three other banks are set to be fined by EU antitrust regulators in coming weeks for rigging the multi …

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Banks fined €1bn by EU for currency rigging - BBC News

2019/05/16 · The European Commission fines five banks a total of €1.07bn for forming cartels to rig currency trading. Homepage. "This is a legacy matter where UBS was the first bank …

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Libor scandal - Wikipedia

2019/05/16 · Five banks including Barclays and Royal Bank of Scotland have been fined more than €1bn (£875m) by the European Union for rigging the multitrillion-dollar foreign exchange market.. The …

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Banks face $1.2 billion civil lawsuit over rigging

2017/02/15 · sentencing by a U.S. federal judge in January of Citigroup Inc., Barclays Plc, JPMorgan and Royal Bank of Scotland Group Plc, which all pleaded guilty in May 2015 to rigging currency rates.

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5 Banks Fined $91M Over Forex-Rigging Claims - Law360

The Libor scandal was a series of fraudulent actions connected to the Libor (London Inter-bank Offered Rate) and also the resulting investigation and reaction. Libor is an average interest rate calculated through submissions of interest rates by major banks across the world.

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Swiss regulator fines banks for fixing forex trading - Reuters

HSBC Settles FX Rigging Investigation with US Department of Justice; HSBC Settles FX Rigging Investigation with US Department of Justice was charged and convicted of crimes related to using information provided by the bank’s client, to manipulate currency markets for their personal benefits.