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FMA Drawing on New Powers to Go after Firms Out of Court
- A report published by the New Zealand financial watchdog highlights its approach to enforcement and investigations activities.
Friday, 28/08/2015 | 07:02 GMT by
Andy Traveller
American Authorities Are Having a Look at Banks'"Last Look"
- The U.S Justice Department and the Securities and Exchange Commission are investigating Barclays Plc over the procedure of last look allowing the bank to requote orders at the expense of its clients.
Tuesday, 03/03/2015 | 22:18 GMT by
Avi Mizrahi
New Gold Price Manipulation Probe Launched by U.S Authorities
- The global FX rates manipulation investigations that forced major banks to settle with regulators for fines of $4.3 billion, have led to a new round of investigation in the U.S. into the setting of precious metals fixing.
Tuesday, 24/02/2015 | 14:28 GMT by
Avi Mizrahi
Did Forex Rigging Banks Leave Traces of Manipulation in Their FX Pricing Algorithms?
- A Reuters report is citing sources close to the matter claiming that the New York banking regulator is investigating whether Deutsche Bank and Barclays Plc used certain algorithms facilitating fixing manipulation.
Thursday, 11/12/2014 | 08:38 GMT by
Victor Golovtchenko
SGX Establishes Independent Committee to Assess Operational Vulnerabilities
- On the heels of recent operational outages, the SGX Board of Directors has established a committee, independent of management to ascertain vulnerabilities facing the data infrastructure.
Monday, 10/11/2014 | 14:48 GMT by
Jeff Patterson
Regulatory Authorities Nearing FX Manipulation Charges, Fines Approaching $41B?
- Following a yearlong investigation by a number of global regulators alleging FX manipulation by many of the world’s leading banks, the potential costs associated with fines are starting to be weighed.
Tuesday, 21/10/2014 | 08:33 GMT by
Jeff Patterson
Bankers Turned FBI Informants in FX Rigging Investigation, Criminal Charges Imminent
- Bankers "Flipped" By U.S investigators and served as "moles" for the international Forex manipulation probe. According to the WSJ, authorities may seek criminal charges against traders as early as next month.
Monday, 15/09/2014 | 08:18 GMT by
Avi Mizrahi
Regulators Enhance Global Cooperation as Fx Rates’ Criminal Investigations Drag On
- The FCA received thousands of assistance requests from law enforcement agencies worldwide in 2013, a 14% increase. A Serious Fraud Office probe targeting institutional dealers’ chat rooms will continue into 2015.
Monday, 11/08/2014 | 08:49 GMT by
Avi Mizrahi
UK's FCA Close to FX Rigging Settlement Agreements with Several Major Banks
- Bloomberg reports sources close to the investigation have stated that that the UK's Financial Conduct Authority is close to settling with Barclays, Citigroup, JPMorgan Chase & Co and UBS, RBS and HSBC pending.
Wednesday, 23/07/2014 | 18:13 GMT by
Victor Golovtchenko
Forex Probe Update: Germany's BaFin Says It Found Clear Evidence of FX Manipulation
- Raimund Röseler, Chief Executive Director of Banking Supervision at BaFin, explained to the media during the regulators' annual press conference that it had solid evidence of FX market manipulation, as the probe evolves.
Tuesday, 20/05/2014 | 13:45 GMT by
Steven Hatzakis
ASIC Bans Jeremy Kaviraj Nambiar over False AUD/USD Trades Made to Hide $1M loss
- The investigation alleges Mr. Nambiar entered over 100 fictitious trading entries including off-market trades that created the false appearance of profit, and some made in the AUD/USD pair to conceal a $1M loss.
Tuesday, 20/05/2014 | 06:05 GMT by
Steven Hatzakis
Director of Institutional FX at Deutsche Bank Is Suspended Over Manipulation Investigation
- London based Kai Lew has been at the position of Institutional FX Sales since 2006 and before that worked for Goldman Sachs with Fixed Income Derivatives. Hong Kong and New Zealand join the investigations.
Tuesday, 01/04/2014 | 11:54 GMT by
Avi Mizrahi
NZ Regulatory Body Launches Forex Probe as Scope of Allegations Widens
- The widening scope of a global forex investigation has now extended to New Zealand, as the country’s Commerce Commission has announced the launch of a probe into the manipulation of currency rates.
Monday, 31/03/2014 | 06:46 GMT by
Jeff Patterson
UBS Suspends More FX Traders Across Three Continents As Investigation Deepens
- Embattled Swiss banking giant UBS AG, has suspended at least four forex traders in the United States, Singapore, and Switzerland following an ongoing probe into the rigging of currency markets and rates.
Wednesday, 26/03/2014 | 21:15 GMT by
Jeff Patterson
Software AG's Apama Can Now Detect FX Market Manipulation and Benchmark Fixing Abuses
- The international enterprise solutions giant launched a new version of its market surveillance software which aims to be able to detect fraud and suspicious behavior on behalf of institutional traders.
Thursday, 13/03/2014 | 16:10 GMT by
Avi Mizrahi
Data on 2,000 Customers Stolen From Barclays, Whistleblower Confirms to News
- Forex Magnates investigates reports by the Mail on Sunday, the UK publication of the Daily Mail, that 2,000 customers' account data had been stolen from Barclays, as shown by a whistleblower to the news publication.
Monday, 10/02/2014 | 20:39 GMT by
Steven Hatzakis
Deutsche Bank Chief Questions Decision to Limit FX Fixings, Calls for Fundamental Change
- As the manipulation of benchmark rates causes widespread upheaval in the industry, some banks opted to limit daily forex fixings, prompting Deutsche Bank to label this as an unsustainable solution.
Thursday, 30/01/2014 | 01:20 GMT by
Jeff Patterson
Embattled RBS Drops Several Forex Fixings Services Amidst Investigation
- In the midst of a lingering probe into the manipulation of forex and benchmark rates, the beleaguered Royal Bank of Scotland (RBS) announced today the cessation of orders for a number of currency fixings.
Wednesday, 29/01/2014 | 01:15 GMT by
Jeff Patterson
Swiss Financial Markets Regulator CEO Patrick Raaflaub Resigns Amid Ongoing Forex Probe
- This Swiss Financial Market Supervisory Authority announced its CEO has resigned effective January 31, 2014, in the midst of a global Forex probe, although it cited to Forex Magnates the resignation wasn't related to it.
Wednesday, 15/01/2014 | 18:17 GMT by
Steven Hatzakis
Federal Reserve Joins Forex Probe, Targets Largest Banks Over Currency Manipulation
- The U.S. Federal Reserve has initiated an investigation, joining other regulators in ascertaining the truth surrounding forex manipulation and the lack of oversight and controls over currency trading.
Tuesday, 14/01/2014 | 00:55 GMT by
Jeff Patterson
RBS Fined $100M To Settle on Sanctions Related Compliance, Group Finance Director To Resign
- Royal Bank of Scotland today announced a settlement for $100 million which it will pay to three U.S. Regulators in connection with historical compliance with U.S. Sanctions. Nathan Bostock intends to resign from board.
Wednesday, 11/12/2013 | 23:33 GMT by
Steven Hatzakis
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