Author Topic: Five banks fined more than $3 billion in currency probe  (Read 1485 times)

0 Members and 1 Guest are viewing this topic.

Mimi

  • Regular Member
  • Posts: 27796
  • www.remnant-online.org
    • The Remnant Online
Five banks fined more than $3 billion in currency probe
« on: November 12, 2014, 09:01:07 AM »
 HONG KONG (CNNMoney)
Five banks have agreed to pay $3.38 billion in fines to global regulators to resolve allegations that they attempted to manipulate foreign exchange rates.

Citibank (C), HSBC (HSBC), JPMorgan Chase (JPM), RBS (RBS)and UBS (UBS) will collectively pay $1.4 billion to the U.S. Commodity Futures Trading Commission and about 1.1 billion ($1.75 billion) to the U.K.'s Financial Conduct Authority. UBS will also make a payment in Switzerland.

The fines are the largest ever imposed by the British regulator, which said it will continue to investigate potential wrongdoing at Barclays (BCS).

More from CNNMoney
  For ever, O LORD, thy word is settled in heaven. Psalm 119:89 

Mimi

  • Regular Member
  • Posts: 27796
  • www.remnant-online.org
    • The Remnant Online
Re: Five banks fined more than $3 billion in currency probe
« Reply #1 on: November 12, 2014, 09:16:04 AM »
Reuters on same story:


November 7, 2014. REUTERS/Regis Duvignau
Global banks fined $4.3 billion for currency rigging
By Kirstin Ridley, Joshua Franklin and Aruna Viswanatha

LONDON/ZURICH/NEW YORK - Regulators fined six major banks including Citigroup and JPMorgan $4.3 billion for failing to stop traders from trying to manipulate the foreign exchange market. Full Article
  For ever, O LORD, thy word is settled in heaven. Psalm 119:89