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Barclays, Citigroup and JP Morgan among banks fined $1.2 billion for forex rigging
Barclays, Citigroup, J.P. Morgan, MUFG and Royal Bank of Scotland have been fined a total of 1.07 billion euros ($1.2 billion) by EU antitrust regulators for rigging the spot foreign exchange market for 11 currencies.
Swiss bank UBS was exempted from a 285 million euro fine since it alerted the existence of two cartels to the European Commission.
A similar case with the U.S. regulators is ongoing where Barclays, BNP Paribas, Citigroup, J.P. Morgan, Royal Bank of Scotland and UBS have entered related guilty pleas, and been collectively fined more than $2.8 billion.
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Forex scandal: Crooked banks' fines 'should go to charity,' says Acevo chief Head of volunteers' organisation says money from the rate-fixing scandal could fill the funding gap left by government cuts Barclays, Citigroup, J.P. Morgan, MUFG and Royal Bank of Scotland have been fined a total of $1.2 billion by EU regulators for rigging the forex market. Gold / Forex. Education. ... Dh250,000: Fines for Abu Dhabi private schools not following COVID-19 protocol. Several grade 9 to 12 pupils due to sit for international exams have returned to schools. The European Commission fines five banks a total of €1.07bn for forming cartels to rig currency trading. Homepage. ... Six banks fined £2.6bn by regulators over forex failings . European Union authorities on Thursday fined five global banks a total of EUR1.07 billion ($1.2 billion) for manipulating the foreign-currency market by...
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