Foreign Exchange

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The Fed fines and bans former Barclays FX head

Barclays ATMs

The Federal Reserve Board on Friday announced that it has imposed a $1.2 million fine and a permanent ban on employment in the banking industry against Christopher Ashton, the former Global Head of Foreign Exchange (FX) Spot Trading at Barclays Bank, in connection with the manipulation of FX pricing benchmarks.

South African regulator finds bank collusion

Money On Hook

A South African antitrust regulator said it found that more than a dozen international and local banks colluded to manipulate foreign currency trades and recommended they be fined 10% of their annual turnover.

Currency lawsuit narrowed down to seven banks

Gavel

The U.S. judge overseeing litigation accusing 16 banks of rigging prices in the $5.3 trillion-a-day foreign exchange market on Tuesday narrowed but refused to dismiss lawsuits against Deutsche Bank, Morgan Stanley, and five other large banks that have yet to settle.

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Barclays ATMs

The Fed fines and bans former Barclays FX head

The Federal Reserve Board on Friday announced that it has imposed a $1.2 million fine and a permanent ban on employment in the banking industry against Christopher Ashton, the former Global Head of Foreign Exchange (FX) Spot Trading at Barclays Bank, in connection with the manipulation of FX pricing benchmarks.

Money On Hook

South African regulator finds bank collusion

A South African antitrust regulator said it found that more than a dozen international and local banks colluded to manipulate foreign currency trades and recommended they be fined 10% of their annual turnover.