Jeong Jae-chan, the chairman of South Korea’s Fair Trade Commission, told a parliamentary hearing that an investigation had begun, although he did not elaborate.
Read MoreTag: Forex probes
Big fines on the way in South Africa’s Competition Commission Forex probe?
With investigations at an advanced stage, South Africa’s watchdog believes banks are not coming forthright with information, while the Competition Commission is confident evidence can back up case.
Read MoreSources: JPMorgan settles Forex price rigging lawsuit in US
The settlement was disclosed in a letter from lawyers for JPMorgan and the plaintiffs, and was filed on Monday with the U.S. district court of Manhattan.
Read MoreBarclays admits its £500 million allocation for FX rigging fine won’t be enough
CEO Antony Jenkins stated Wednesday, “Banks didn’t have strong enough compliance departments. We’ve moved to strengthen ours. As I’ve always said, changing culture takes time. We’re making progress – the industry has come a long way on both topics but we have work to do.”
Read MoreIt continues…HSBC fires two London-based FX traders, including head of G10 spot
Reuters is reporting that HSBC has fired two London-based currency traders, including Serge Sarramegna, who had been the bank’s UK…
Read MoreCharges coming in FX rigging probe from USA…
Bloomberg is reporting today that prosecutors from the United States are pressing to bring charges against a bank for Forex…
Read MoreUBS hints at expected fines in settlement of FX trading probe
The terms proposed in the talks included findings that UBS did not have adequate controls over its FX business plus the bank could face “material monetary penalties” in any deal struck with authorities
Read MoreReport: State Street tells it’s head of Forex to stay out of the office
Amid a widening regulatory probe into currency trading, State Street has asked its foreign exchange trading chief to stay away…
Read MoreNew York’s banking regulator to seek Forex monitors at Deutsche, Barclays…
What is meant by ‘monitor’ and how exactly they will provide oversight or uncover unethical practices is not quite clear yet.
Read MoreReport: Commerzbank suspends two forex traders
Commerzbank has suspended two traders under suspicion of having tried to manipulate the Polish zloty’s euro exchange rate in regular trading, the bank said on Wednesday.
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