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Regulation

Criminal Charges Loom for Currency-Rigging Cartel

  • Members of 'The Cartel' used instant messages to coordinate the rigging of foreign-exchange benchmarks.
Tuesday, 10/01/2017 | 12:36 GMT by Finance Magnates Staff
Regulation

SFC Freezes Brokerage's Client Account Amid Suspected Market Manipulation

  • The Hong Kong regulator has taken action against an Interactive Brokers client's account in the interest of the public.
Friday, 16/12/2016 | 11:29 GMT by Finance Magnates Staff
Regulation

SEC Cracks Down on Illegal Stock Racket Worth $26m

  • Joseph Taub and Elazar Shmalo have been charged with abuse and the manipulation of the stock market.
Monday, 12/12/2016 | 19:41 GMT by Jeff Patterson
Regulation

Citigroup Trader Settles Unfair Dismissal Case over FX Rate Manipulation

  • The bank fired the trader after uncovering electronic chats that violated its code of conduct.
Monday, 12/12/2016 | 08:15 GMT by Finance Magnates Staff
Regulation

SESC Proposes $1.9m Fine for Morgan Stanley MUFG over Market Manipulation

  • The trader allegedly manipulated the market by selling Seibu shares after their price rose and cancelled the buy orders.
Tuesday, 06/12/2016 | 10:01 GMT by Finance Magnates Staff
Regulation

Don Wilson’s DRW to Face CFTC in Court Showdown over Market Manipulation

  • DRW is set to testify in court this Thursday after rigging prices of an interest-rate futures contract listed by Nasdaq.
Monday, 28/11/2016 | 07:48 GMT by Finance Magnates Staff
Regulation

HSBC Investigating Mark Johnson’s Former FX Trades Following Arrest

  • HSBC is relying on a former probe of the bank's FX trades to investigate Johnson's behavior.
Thursday, 21/07/2016 | 20:02 GMT by Jeff Patterson
Regulation

Federal Reserve Board Bans Former UBS Trader for Currency Rigging

  • Matthew Gardiner has been barred from participating in the banking industry for his manipulation of FX pricing benchmarks.
Wednesday, 20/07/2016 | 10:21 GMT by Finance Magnates Staff
Regulation

Deutsche Bank Investigated Over Italy Bond Sale

  • The German bank is being investigated for market manipulation over its sell-off of Italian government bonds in 2011.
Friday, 06/05/2016 | 11:35 GMT by Finance Magnates Staff
Regulation

Barclays and Citigroup Draw Lawsuits From Former FX Traders

  • Jack Murray and Carly McWilliams are suing their former employers on the grounds of unfair dismissal at a London court.
Thursday, 14/01/2016 | 16:26 GMT by Jeff Patterson
Regulation

Banks Lawsuit: Preliminary Approval Granted for $2 Billion in Settlements

  • The FX rates manipulation scandal continues to have serious negative effects on the bottom lines and brands of the major global banks.
Wednesday, 16/12/2015 | 08:50 GMT by Avi Mizrahi
Regulation

Barclays in for Another Hefty Forex Fine

  • New York’s Department of Financial Services starts hunt down of European banks
Tuesday, 17/11/2015 | 21:12 GMT by Irina Slav
Regulation

10 Bankers Face Court Over Euribor Rate Rigging

  • After the huge Libor-related settlements and fines, regulators are focusing on Euribor-rigging allegations
Friday, 13/11/2015 | 17:48 GMT by Irina Slav
Prime Brokerage

Barclays, HSBC and RBS Hit by Another Forex Manipulation Verdict

  • Several big banks have been hit by another round of foreign exchange market manipulation fines after settlement with Scott + Scott
Thursday, 22/10/2015 | 21:07 GMT by Victor Golovtchenko
Regulation

FSB Report Shows Collective FX Benchmark Reforms Making Progress

  • The report has addressed the reduction of opportunities for improper trading behavior by market participants around the benchmark fixes.
Thursday, 01/10/2015 | 09:54 GMT by Jeff Patterson
Regulation

Former RBS FX Trader Claims Unfair Dismissal Following FX Rigging Scandal

  • Another FX trader dismissed as a result of the FX rigging scandal has claimed unfair dismissal. This time it’s RBS being sued.
Wednesday, 16/09/2015 | 18:31 GMT by Andy Traveller
Regulation

Major Banks Face New $1 Billion FX Manipulation Lawsuit in Canada

  • Only one month after settlements in U.S courts exceeded $2 billion, 'The Cartel' is hit with a copycat action north of the border.
Sunday, 13/09/2015 | 09:03 GMT by Avi Mizrahi
Regulation

Accusations of Insider Trading Ahead of M&A Deal Levelled against Citigroup

  • A disgruntled former FX trader has told a court that senior staff manipulated the sterling rate to sink $35 million in illicit profits.
Thursday, 10/09/2015 | 13:30 GMT by Andy Traveller
Regulation

The FX Rigging Scandal a Year After - Lesson Learned?

  • FX clients have lost their trust in the banks and investors are worried about the overall impact of fines crossing over $10 billion.
Monday, 07/09/2015 | 10:19 GMT by Avi Mizrahi
Regulation

Forex Class Action Lawsuits to Potentially Weigh on Major Banks

  • A set of civil claims related to the manipulation of the foreign exchange markets could further damage major banks’ balance sheets
Monday, 17/08/2015 | 20:15 GMT by Victor Golovtchenko
Regulation

Bank's FX Manipulation Lawsuit Settlement Costs Reach $2 Billion

  • Barclays, Goldman Sachs, BNP Paribas, HSBC and the Royal Bank of Scotland have all agreed to pay clients for their part in ”The Cartel”.
Friday, 14/08/2015 | 07:33 GMT by Avi Mizrahi
Regulation

“Rain Man” Trader Convicted to 14 Years in Prison for LIBOR Rigging

  • Trader Tom Hayes got a hefty prison sentence for actively participating in the manipulation of the Japanese yen LIBOR rate
Monday, 03/08/2015 | 22:07 GMT by Victor Golovtchenko
Regulation

Four International Banks Added to FX Manipulation Lawsuit

  • Additional French, British, Canadian and Japanese banks allegedly took part in ”The Cartel” and “The Bandits’ Club.”
Sunday, 02/08/2015 | 16:03 GMT by Avi Mizrahi
Regulation

Reforming Interest Rate Benchmarks: How Are We Progressing?

  • The latest report reveals that progress is being made in the quest to clean up major interest rate benchmarks following fixing scandals.
Thursday, 09/07/2015 | 20:03 GMT by Andy Traveller
Regulation

FX/Libor Rate Rigging Scandals Still Engrained in Industry’s Psyche

  • The manipulation of FX and Libor rates has irreversibly changed the financial services industry, despite a number of recent settlements.
Tuesday, 07/07/2015 | 10:53 GMT by Guest Contributors
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