US British regulators have slapped massive fines on six major global banks for rigging the foreign exchange market Libor interest gulators slap $ 4. 6 banks fined for forex.
Fed fines Deutsche Bank $ 156. Six top banks fined for forex, Libor abuses.
6 billion US for manipulating the foreign exchange markets. Six banks have been collectively fined £ 2. 6 big banks have been fined more than $ Billion for market manipulation. 6 million for violating foreign exchange rules and running afoul of the Volcker Rule.
Six banks fined $ 5. Other regulators including the US Department of Justice which is known for levying heavy fines are still. 6bn over rigging of foreign exchange markets. Read more about sharing. HSBC Securities the bank’ s US brokerage arm was fined around $ 1. 6 billion after UBS and British regulators fined six major global banks a total of nearly $ US6 billion ( $ 7. These banks include Citibank HSBC, UBS , JP Morgan Chase RBS. Federal Reserve on Thursday fined Deutsche Bank AG $ 156.
The tally of the fines Royal Bank of Scotland , agreed in separate settlements with UBS, Citi, HSBC, JPMorgan Chase, Bank of America is already close to the $ 6bn paid so far over the long- running Libor rate- rigging probe. May 20 · The Royal Bank of Scotland will pay a criminal fine of $ 395 million a $ 274 million penalty to the Fed. The banks used confidential customer order information to collude with forex banks to manipulate the G10 foreign exchange currency rates and profit illegally at the expense of their customers fine the market.
Related Coverage Factbox: Bank forex settlements top $ 4. Forex Brokers 427. I have explained in this post the currency market manipulation allegations as well as videos. HSBC Swiss bank UBS , Citibank , US banks JP Morgan Chase, Royal Bank of Scotland Bank of America have all been fined.