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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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ED fines Standard Chartered record Rs 100 cr for breaking forex rules in Tamilnad bank deal An eight-year probe found that Standard Chartered violated the forex law when it worked with a group of investors to buy a stake in Tamilnad Mercantile Bank in 2007. 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 . 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. 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... Citigroup Inc., Royal Bank of Scotland Group Plc and JPMorgan Chase & Co. are among five banks that agreed to pay European Union fines totaling 1.07 billion euros ($1.2 billion) for colluding on ...
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