Barclays, Citigroup and JP Morgan among banks fined $1.2 billion for forex rigging
KEY POINTS
Barclays, Citigroup, J.P. Morgan, MUFG and Royal Bank of Scotland have been fined a total of 1.07 billion euros ($1.2 billion) by EU antitrust regulators for rigging the spot foreign exchange market for 11 currencies.
Swiss bank UBS was exempted from a 285 million euro fine since it alerted the existence of two cartels to the European Commission.
A similar case with the U.S. regulators is ongoing where Barclays, BNP Paribas, Citigroup, J.P. Morgan, Royal Bank of Scotland and UBS have entered related guilty pleas, and been collectively fined more than $2.8 billion.
Crypto Scam Reports Tripled in the UK Last Year Resulting $34 Million In Losses. In Other News, EU Fined Forex Banks $1.2 Billion Over Foreign Exchange Cartels
Caution! Crypto Scam Reports Tripled in the UK Last Year Resulting $34 Million In Losses. In Other News, EU Fined Forex Banks $1.2 Billion Over Foreign Exchange Cartels
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 European ... A Manhattan federal judge on Monday fined a former Barclays trader who cooperated in the feds' investigation of currency price-rigging inside big banks, ordering him to pay $50,000 but sparing him ... Six banks, including RBS and HSBC, have been collectively fined £2.6bn by UK and US regulators for traders' attempted manipulation of foreign exchange rates. The European Commission said Thursday that it had fined Barclays, Citigroup, JPMorgan Chase, Mitsubishi UFJ Financial Group and the Royal Bank of Scotland a combined 1.07 billion euros, about $1.2 ... Along with the nine banks, SAFE also punished seven companies and several individuals for forex violations. The seven companies were fined as much as 6 million yuan for falsifying trade deals to obtain foreign currencies or illegal money transfers.
Five banks fined £2bn by regulators over forex failings
Banks Fined £2bn For Rigging Forex Markets Banks Hit With £2bn Fines Over Currency Fixing FX Fixing Scandal: FCA Fines 5 Banks £1.1bn as Barclays Remains Under Investigation. Five banks have been fined over €1 billion by the European Commission for their involvement in currency market cartels. They would share information about foreign exchange trades and coordinate ... Keep up-to-date with the latest news, subscribe here: http://bit.ly/AFP-subscribe US and British regulators fined six major global banks nearly $6 billion We...
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