U.S. prosecutors almost ready to charge FX traders.

Dog Detective

Several bank employees have acted as informants for federal investigators.

Bloomberg News reports that U.S. prosecutors are preparing to file charges as soon as next month against currency traders at some of the world’s biggest banks in an investigation into possible manipulation of benchmark exchange rates, according to two people familiar with the matter.

Several bank employees have acted as informants for federal investigators, gathering information and evidence against their colleagues, the Wall Street Journal reported on Sunday. Peter Carr, a spokesman for the Justice Department, declined to comment.

Authorities on three continents are investigating wrongdoing in the $5.3 trillion foreign-exchange market, including allegations that dealers leaked confidential client information and colluded to rig currency benchmarks. Banks could settle with U.S. and U.K regulators as soon as November, people familiar with the matter have said.

Hit the link below to access the complete Bloomberg News article:

U.S. Prosecutors Said Close to Charging Forex Traders

Ropes & Gray Hires New York Prosecutor for Hong Kong

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News