UBS, RBS, JPMorgan, Citi, Barclays, HSBC heading towards EU settlement for FX rate rigging cartel LeapRate

November 20, 2017 BY LeapRate Staff

UBS, RBS, JPMorgan, Citi, Barclays, HSBC heading towards EU settlement for FX rate rigging cartel

The Financial Times is reporting that several of the world's leading banks are heading towards final negotiations on a financial settlement (read:fines) with the European Commission, following a more than four year long probe into allegations they formed a cartel to rig the $5 trillion global FX market. The FT named UBS, RBS, JPMorgan, Citigroup, Barclays,…

April 12, 2016 BY Maria Nikolova

UK regulator bans ex-RBS LIBOR submitter Paul White

The UK Financial Conduct Authority (FCA) today announced the imposition of a ban on Paul White, a former a Japanese Yen (JPY) and Swiss Franc (CHF) LIBOR submitter at Royal Bank of Scotland Group plc (LON:RBS). Mr White is banned from performing any function in relation to any regulated financial activity. The FCA has ruled…

October 23, 2015 BY Maria Nikolova

Barclays, RBS, HSBC agree to pay $924M for Forex manipulation in the US

The bill over FX market manipulation keeps growing for big investment giants, with three of the UK's biggest banks - Barclays PLC (LON:BARC), HSBC Holdings plc (LON:HSBA), and Royal Bank of Scotland Group plc (LON:RBS), agreeing on Thursday to pay a total compensation of £600 million ($924 million) to victims of Forex manipulation in the…

June 22, 2015 BY Andrew Saks-McLeod

RBS prepares for shareholders revolt today as Osborne prepares to offload taxpayers 79% stake

Chancellor of the Exchequer George Osborne wants to sell the 79% stake that the British taxpayer holds in the bank, however RBS has been asked to pay some of the costs associated with the transaction, a proposal which shareholders will vote on today

June 17, 2015 BY Andrew Saks-McLeod

RBS hits the headlines again as millions of pounds disappear overnight due to technical glitch

600,000 electronic payments have disappeared overnight as a result of a technical glitch within RBS systems, affecting NatWest, Ulster Bank, RBS and Coutts customers

May 20, 2015 BY Andrew Saks-McLeod

Global law firm Hausfeld, counsel against banks in the US, lifts the lid on FX rigging outcomes

The rights of customers cannot be subordinated to the self-interest of trader profit. The duties of financial institutions to those who entrust them with their investments must be respected. Where there is a failure of this responsibility, it must be clear that there will be accountability” - Michael D. Hausfeld

May 20, 2015 BY Andrew Saks-McLeod

RBS reaches $669 million settlement with US Department of Justice & Federal Reserve

RBS will pay penalties of $395 million to the DoJ and $274 million to the Federal Reserve to resolve the investigations. As previously disclosed, RBS remains in discussions with governmental and regulatory authorities in other jurisdictions in relation to conduct within its FX business

May 11, 2015 BY Andrew Saks-McLeod

FX rate manipulation to cost four banks $3 billion as guilty plea draws near

RBS, Citigroup, Barclays and JPMorgan Chase & Co are set to plead guilty this week to the part they played with regard to FX rate manipulation, with fines set to reach approximately $3 billion

May 07, 2015 BY Andrew Saks-McLeod

Billions in fines for FX rigging imminent for four major banks

Four major banks, JPMorgan Chase & Co, Barclays, RBS and Citigroup, are expected to plead guilty to criminal antitrust charges for alleged collusion by traders in foreign-currency markets

March 24, 2015 BY Andrew Saks-McLeod

RBS takes down its interest in Citizens by 50%, aims to raise $3 billion

As a result of public discourse over RBS' 80% ownership by taxpayers following its near-collapse in 2008 after a period of aggressive expansion, RBS is focusing its efforts on home soil, with plans to sell $3 billion worth of stock in Citizens Financial Group, and to pull out of most European, Middle Eastern and Asian markets, with a potential 19,000 jobs to go

Tag: Royal Bank of Scotland Group plc (LON:RBS)