Jeong Jae-chan, the chairman of South Korea’s Fair Trade Commission, told a parliamentary hearing that an investigation had begun, although he did not elaborate.
Read moreWith investigations at an advanced stage, South Africa's watchdog believes banks are not coming forthright with information, while the Competition Commission is confident evidence can back up case.
Read moreThe settlement was disclosed in a letter from lawyers for JPMorgan and the plaintiffs, and was filed on Monday with the U.S. district court of Manhattan.
Read moreCEO Antony Jenkins stated Wednesday, "Banks didn't have strong enough compliance departments. We've moved to strengthen ours. As I've always said, changing culture takes time. We're making progress - the industry has come a long way on both topics but we have work to do."
Read moreReuters is reporting that HSBC has fired two London-based currency traders, including Serge Sarramegna, who had been the bank's UK head of G10 foreign exchange cash trading, a source familiar with the matter said on Tuesday. The other dealer is Edward Pinto, who traded Scandinavian currencies. Both were suspended in January, along with several other…
Read moreBloomberg is reporting today that prosecutors from the United States are pressing to bring charges against a bank for Forex rate rigging by the end of this year, and actions against individuals will probably follow in 2015, this is according to people familiar with the probe, no one cited by Bloomberg as the story is…
Read moreThe terms proposed in the talks included findings that UBS did not have adequate controls over its FX business plus the bank could face "material monetary penalties" in any deal struck with authorities
Read moreAmid a widening regulatory probe into currency trading, State Street has asked its foreign exchange trading chief to stay away from the office, Dow Jones reported, citing unnamed sources. Simon Pepper, the London-based head of FX spot trading, has been away from the U.K. office for the past two weeks, sources told the publication. A…
Read moreWhat is meant by 'monitor' and how exactly they will provide oversight or uncover unethical practices is not quite clear yet.
Read moreCommerzbank has suspended two traders under suspicion of having tried to manipulate the Polish zloty's euro exchange rate in regular trading, the bank said on Wednesday.
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