Tag: 4pm fix

November 05, 2013 BY Gerald Segal

Big banks may face a flood of lawsuits for 4 pm FX fix manipulation

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 more
November 01, 2013 BY Gerald Segal

Big banks suspending senior FX execs as 4pm fix investigation intensifies

Senior 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 more
October 29, 2013 BY Gerald Segal

UBS and Deutsche Bank confirm to be part of foreign exchange markets manipulation probe

Both 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
October 07, 2013 BY Gerald Segal

Can exchange rates be manipulated?

Swiss 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…

Read more