Three United Kingdom nationals and former traders of major banks voluntarily surrendered to the FBI and were arraigned on a charge arising from their alleged roles in a conspiracy to manipulate the price of U.S. dollars and euros exchanged in the foreign currency exchange (FX) spot market, the Justice Department announced today. A one-count indictment,…
Read moreJP Morgan's chief currency trader in London, Richard Usher, has left the bank, a source familiar with the matter said on Tuesday. Usher, the head of spot G10 currency trading at the U.S. based bank in London, had been put on leave by the bank since October last year. It was unclear at the time whether…
Read more...and the UK's FCA is looking at IMs and chatroom activity of JP Morgan's Chief FX Dealer in London. As we have recently reported, several financial regulators across the globe, later joined by the FBI, have started regulatory and criminal probes into currency rates manipulation around the daily 4pm London fix of FX rates. Reports…
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