Latest Foreign Exchange News
Martin Arnold
FT - HSBC Faces New Claims of FOREX Rigging
HSBC is facing a fresh legal battle over allegations that it's traders manipulated foreign exchange markets for their own profit at the expense of their clients, with the claims centering on trades from more than a decade ago.
Katie Martin
FT - FOREX Code of Conduct aims to Rebuild Investors’ Trust
Banks, policymakers and investors have drawn up a new set of guidelines for behaviour in the vast global foreign exchange markets, seeking to rebuild trust after years of scandals...
Caroline Binham
FT - FOREX ‘Cartel’ Traders Strike Deal Over US Rigging Charge
Three British-based former currency traders charged by the US Department of Justice in its criminal investigation into the alleged rigging of foreign-exchange benchmarks...
Nick Kostov
WSJ - BNP Paribas Fined by Fed Over Currency Manipulation
French bank to pay $246 million to resolve probe of misconduct in its foreign-exchange business.
Eva Szalay
FT- Banks Accused of Overcharging Small Customers for Forex Services
Banks across Europe earn hundreds of millions of euros a year from overcharging small corporate customers for foreign exchange services...
Eva Szalay
FT- Big Banks to Fight Mifid Push for Extra Transparency in FX Markets
Some of the biggest banks in the $5tn-a-day currency markets plan to use a prominent lobby group to push back at rules requiring them to disclose...
Delphine Strauss
Five Big Banks Extend Their Domination of Forex Trading
The biggest banks have reinforced their dominance of the $5.3tn-a-day foreign exchange market during the past year...
Reuters
Exclusive: Bank in Forex Settlement Talks with U.S., N.Y. Sources
Bank is in settlement talks with the U.S. Justice Department and New York attorney general over...
The Wall Street Journal
Bank to Pay $714 Million to Resolve Currency Suites
Suits claimed custody bank defrauded pension funds by overcharging on currency transactions...
The Wall Street Journal
Banks Expected to Settle FX Probes for Billions
Citigroup Inc., Barclays PLC, J.P. Morgan Chase & Co. and Royal Bank of Scotland Group are expected to plead guilty to rigging...
Financial Times
Big Banks Finalise $6bn-plus Settlements on Foreign Exchange
Five of the world's biggest banks are finalising agreements to collectively pay more that $6bn for allegedly...
McClatchy Washington Bureau
Global Banks Fined $5.6 Billion-plus for Forex Swindle
The banks conspired with one another to fix rates on U.S. dollars and euros traded in the huge global market...
Bloomberg View
Banks Will Keep Doing FX Stuff That Got Them Into Trouble
As a condition of their probation, all the banks that pled guilty to a conspiracy to rig foreign-exchange rates...
Michael Mackenzie
Harsh Light Falls on Dark Underbelly of Global Lenders' Trading Operations
No bank can afford to employ a trader who thinks that cheating and trying are synonymous...
Financial Times
Bank Admits Rigging the Market
Lender operated 'brazen heads I win, tails you lose scheme to rip off their clients' regulator finds...
The Wall Street Journal
Forex Investors See Regulation as a Top Issue
Tightening rules could make currency trading more difficult, expensive...
The Wall Street Journal
Forex Scandal Drives Shift to Algo Trading
Banks are increasingly turning to computer programs to carry out foreign exchange trades...
Financial Times
Bank FX Trader Seeks 'Truth' in Wrongful Firing Case
A former trader told London employment tribunal on Tuesday that he was "not here to mudsling" but to ensure...
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