After reporting its Q3 interim management statement, HSBC joins the ranks of alleged FX manipulators. In a fresh batch of events, it seems that major bank troubles related to the 4pm fix manipulation investigation are just about to start. As we have reported during the past couple of weeks, major banks around the globe are being investigated…
Read moreSenior forex traders at RBS, Citigroup, JPMorgan and Standard Chartered put on leave. The 4pm Fix investigation dominoes are starting to fall.... Rohan Ramchandani of Citigroup, Matt Gardiner of Standard Chartered and Richard Usher at JP Morgan, plus two unnamed Forex executives at RBS, were all separately either suspended or placed on leave from their…
Read moreGlobal financial regulators get another bank on board to help them assess the London foreign exchange fix fairness. Barclays (NYSE:BCS) -- the UK's third biggest bank by market cap -- is the next shoe to drop in financial regulators' efforts to mitigate potential risks of currency rates rigging. In its third quarter interim management statement Barclays…
Read moreBoth banks are launching internal investigations to facilitate cooperation with regulatory bodies. Swiss banking heavyweight UBS and foreign exchange markets giant Deutsche bank have reported separately in their quarterly earnings reports on Tuesday, that the banks have received inquiries from their regulators regarding the way they conduct foreign exchange transactions. Regulators across the globe, starting…
Read more...and the UK's FCA is looking at IMs and chatroom activity of JP Morgan's Chief FX Dealer in London. As we have recently reported, several financial regulators across the globe, later joined by the FBI, have started regulatory and criminal probes into currency rates manipulation around the daily 4pm London fix of FX rates. Reports…
Read moreFocus seems to be on chat room activity around the daily 4pm London fix. A report Friday by Bloomberg suggests that the US Justice Department and the FBI are conducting separate criminal probes into foreign currency rate market rigging by some of the world's biggest banks, around the daily 4pm fix of various currency pairs.…
Read moreSwiss regulator FINMA investigating several banks for possible manipulation of foreign exchange markets. Much of the behind-the-scenes chatter in the forex world this past weekend has revolved around the investigation announced Friday by Swiss financial regulator FINMA into the possible manipulation of foreign exchange markets by a number of unnamed banks. The excitement began after a very…
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