Citi and JPM both paid over $1.0B in the largely unregulated $5 Trillion a day market.
| less than a minute read
Banks Pay Up to Settle Forex Manipulations
Get in touch
Get in touch
Regulators fined six major banks a total of $4.3 billion for failing to stop traders from trying to manipulate the foreign exchange market, following a yearlong global investigation. HSBC Holdings Plc, Royal Bank of Scotland Group Plc, JPMorgan Chase & Co, Citigroup Inc, UBS AG and Bank of America Corp all faced penalties resulting from the inquiry, which has put the largely unregulated $5-trillion-a-day market on a tighter leash, accelerated the push to automate trading and ensnared the Bank of England.
Get in touch
Get in touch
