Probably a huge sigh of relief.
Prosecutors from the U.S. Department of Justice are offering immunity deals to junior traders in London as they continue to investigate the alleged rigging of foreign exchange rates by banks and senior traders, the Financial Times reported, citing sources.
Foreign exchange benchmarks will be reviewed by the world's top financial regulator, the latest front to be opened in a global probe into allegations of price manipulation in the world's largest financial market.
The US Department of Justice has quizzed BNP Paribas executives as part of an investigation into the potential manipulation of the $5.3 tril-a-day currency market
The U.S. Justice Department late Monday filed civil fraud charges against the nation’s largest credit-ratings agency, Standard & Poor’s, accusing the firm of inflating the ratings of mortgage investments and setting them up for a crash when the financial crisis struck.
Laura Pendergest-Holt, 39, the former chief investment officer of Houston-based Stanford Financial Group, was sentenced to 36 months in prison for her role in obstructing a U.S. Securities and Exchange Commission (SEC) investigation into Stanford International Bank (SIB), the Antiguan offshore bank owned by convicted financier Robert Allen Stanford.