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Citi restates Q3 results

Citi Building Sign

Citigroup has revealed that it’s facing a U.S. criminal probe into the bank’s foreign-exchange business and took a $600 million legal charge that forced it to restate third-quarter results.

FX scandal prompts tougher measures from FSB

Trading

A panel of global regulators, responding to a manipulation scandal that’s shaken the financial industry, backed measures to make it harder for traders to exploit key benchmarks in the $5.3 trillion-a-day currency market.

London traders due huge bonus cuts

London

Foreign-exchange traders in London are set for the biggest drop in bonuses among bank employees as regulators toughen scrutiny in the wake of scandals, according to a survey by Emolument.

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