The Traderszone Network

Published in TZ Latest News 7 November, 2014 by The TZ Newswire Staff

UK prepares forex fines for six banks on Wednesday: sources

British regulators investigating allegations of collusion and manipulation in the foreign exchange market could fine a group of six banks as early as next Wednesday, people familiar with the matter said. It would be the first settlement in the year-long global probe into the $5.3 trillion-a-day foreign exchange market. A group settlement could be appealing to the banks, after Barclays in 2012 was singled out as the first bank to settle with regulators over a global investigation into the rigging of benchmark interest rates.