EU regulators fine five banks $1.2 billion for forex rigging

EU regulators fine five banks $1.2 billion for forex rigging

Barclays, Citigroup, JP Morgan, MUFG and Royal Bank of Scotland were fined a combined $1.2 billion by the EU on Thursday for rigging the multi-trillion dollar foreign exchange market. The European Commission said individual traders at the banks formed two cartels to manipulate the spot foreign exchange market for 11 currencies, including the dollar, the euro and the pound.

KCooper
KCooper
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