New York regulator issues subpoenas to top banks in FX probe

Wall Street & Broadway sign

New York's financial regulator has sent subpoenas to Goldman Sachs, Credit Suisse, BNP Paribas and Societe General, expanding its probe into the possible rigging of foreign exchange rates through computer programs, people familiar with the matter said.

Reuters reports that the state's Department of Financial Services, overseen by superintendent Benjamin Lawsky, is looking at whether computer programs allow banks to front-run or otherwise take advantage of clients, the sources said.

The department is already probing Barclays and Deutsche Bank over their electronic trading platforms and installed monitors in those banks for a closer inside look at what's going on.

A monitor was installed at Deutsche Bank last month, Reuters reported, and at Barclays in November.

Hit the link below to access the complete Reuters article:

New York financial regulator sends subpoenas in forex probes - sources

SNB will be active in forex market if needed - Jordan

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts