European financial regulators may consider the global FX giant fully immune from any penalties whatsoever as a result of assistance with inquries into the FX rigging probe The days when traditional banking practices in which customers paid for the service that they received on a per-transaction basis are a distant memory to most European corporate…
Read moreBritish financial markets regulator announces plans to reduce possibility of rate manipulation by traders The Financial Conduct Authority (FCA) announced plans to look into how firms can reduce the risk of traders manipulating key benchmarks as a central part of its Business Plan for 2014/15, which was published yesterday. Together with several London-based financial institutions…
Read moreKai Lew is the first female senior executive to have duties curtailed among 30 traders across several banks as a result of high-profile FX rate manipulation probe More casualties of the global FX rate manipulation are taking place as Deutsche Bank, one of the many financial giants which affirmed its commitment to cooperation with worldwide…
Read moreFCA hints that criminal charges are coming; Asset Managers launching lawsuits. So far, the major fallout of the investigations launched by several national financial regulators into the rigging of the global currency market -- specifically into the way the daily 4pm cross currency fix is set -- has been limited to some bad press for…
Read moreCiti's revenue from fixed income, currencies and commodities trading fell 7% last year. Global commercial bank Citigroup has announced that its Head of FX, Anil Prasad, is leaving the company effective March 31, with no replacement set yet. Prasad joined Citi in the mid 1980s, although he left the bank for a spell to work…
Read moreG 20’s Financial Stability Board commits to revamp the way FX benchmarks are calculated According to a fresh Reuters report, the Royal Bank of Scotland has announced that it is suspending to accept orders in relation to several foreign exchange fixings. While the bank has declined to comment on whether it has something to do…
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