Tag: forex manipulation

May 24, 2017 BY admin

BNP Paribas receives $350m fine for manipulating forex rates

French bank BNP Paribas (BNPP) has today been struck with a $350 million USD fine by New York State's banking regulator. The bank is being held responsible for its Foreign Exchange “Cartel” manipulating foreign exchange rates, engaging in collusion, executing fake trades, coordinating trades to enhance profits at customers’ expense, and improperly sharing confidential customer…

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July 20, 2016 BY Mike Fox

HSBC Forex head arrested in New York; first person to be charged in DoJ's FX probes

Bank Forex executive Mark Johnson, HSBC's global head of foreign exchange cash trading in London has reportedly been arrested at New York's John F. Kennedy airport, charged with front-running customer orders. According to press reports, Mr. Johnson has become the first person to be charged in the Justice Department's three-year probe into forex rigging at global banks. He…

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December 17, 2015 BY Maria Nikolova

Swiss regulator issues six industry bans against UBS managers, traders for FX manipulation

The Swiss Financial Market Supervisory Authority (FINMA) today announced that has issued industry bans of between one and five years against six managers and traders formally employed in the foreign exchange and precious metals business of UBS AG (SWX:UBSN). The watchdog concluded that the six individuals were responsible for the breaches of regulation at UBS…

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