So heres what we know about the investigation: Barclays, HSBC, Royal Bank of Scotland Group, UBS, Citigroup, JPMorgan, and Bank of America are all involved. Regulators will be charging these banks with failing to stop their employees from manipulating a specific currency exchange benchmark rate. There will be transcripts of their activity (always the most interesting part). The UK banks will take about $1.8 billion of fines for this, but regulators in the US havent finished negotiating. The DOJ hasnt finished its civil and criminal investigations either, and those may not be done until next year. businessinsider/banks-keep-billions-for-forex-probe-2014-11
Posted on: Mon, 10 Nov 2014 02:37:44 +0000
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