The review sets out 21 recommendations for UK's Fixed Income, Currency and Commodities (FICC) markets with the goal of raising standards in global FICC markets. How will future FX regulation be effected?
Read moreAs the Forex rigging settlements around major publicly traded banks have started to clear up, many prognosticators have evaluated the potential impact of the stock prices of these banks. Trefis, an online financial community structured around trends, forecasts and insights put together a table showing the different bank fines from the various government regulators and financial watchdogs.…
Read moreThe 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
Read moreBarclays is subject to £1.53 billion in fines from 6 US and British authorities, representing the highest fiscal penalty paid so far by any single institution with regard to the FX manipulation cases that have been ongoing since mid 2013
Read moreThe financial services giant has reached a settlement with DoJ and the Fed, along with an agreement to settle a private class action in the US.
Read moreThe DOJ, however, terminated the 2012 non-prosecution agreement with the bank, which will lead to UBS paying a $203 million fine for LIBOR manipulation.
Read moreLord Grabiner collected a fee of £400,000 for leading the investigation into whether the Bank of England participated in FX rate manipulation, with the entire report costing £3.5 million. US law enforcement authorities are now beginning to scrutinize the work carried out by Lord Grabiner
Read more"If the DoJ does tear up the UBS agreement, it would mark the first time it has brought criminal charges against a bank that breached the terms of an NPA." - Financial Times
Read moreThe Bank for International Settlements has established a working group which will, in conjunction with central banks across the globe, work toward single global regulation for the FX industry
Read moreSettlement talks keep advancing involving major banks regarding the FX scandal revolving around the 4pm fix benchmark WM/Reuters rate service.
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