Four major banks pleaded guilty on Wednesday to trying to manipulate foreign exchange rates and six banks were fined a total of nearly $ 6 billion in a settlement that substantially ends a global probe into misconduct in the $ 5- trillion- a- day market. Traders with nicknames like the " Three Musketeers" the " A- Team" plotted over internet chat rooms to manipulate currency markets for years, profiting at the expense of clients - then congratulating themselves for their brilliance - regulators say.
5 billion euros) in fines against five major US and European banks for attempting to manipulate foreign exchange markets. Banks fined billions over forex rigging. British banks could face billions of pounds of civil claims over the rigging of the ‘ wild west’ foreign exchange markets following a landmark court case in New York. Six banks fined £ 2. Banks fined billions for rigging forex. 6bn by regulators over forex failings.
But the DoJ found it had violated the terms of its Libor settlement so the bank will plead guilty to rigging Libor pay an additional fine over that regulators announced Wednesday $ 3.
Banks fined billions for rigging forex SOME of Britain' s biggest banks have been fined a total $ 3. 4 billion for manipulating foreign exchanged markets and then gloating about their success.
May 21, · Aitan Goelman, the Director of Enforecment at the U. Commodity Futures Trading Commission, told Maggie Lake the banks' misconduct is " endemic.