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Institutional FX
Credit Suisse to Face Class-Action Lawsuit in the US for FX Rigging
The bank was a part of a cartel. However, the other 15 banks settled with investors.
Several traders of the bank allegedly shared non-public price information in chat rooms.
Wednesday, 02/02/2022 | 11:55 GMT
by
Arnab Shome
Regulation
Former JPMorgan Trader Convicted of Price Fixing in FX Market
Akshay Aiyer was a former Executive Director at JPMorgan.
Thursday, 21/11/2019 | 06:16 GMT
by
Celeste Skinner
Regulation
London Court Hears £1B Forex-Rigging Case Against Five Banks
Scott + Scott, which led the litigation that generated $2.3 billion in US, is representing the investors in the UK lawsuit.
Tuesday, 05/11/2019 | 20:36 GMT
by
Aziz Abdel-Qader
Regulation
FX Trader Sues Citi for Framing Him to Appease Regulators
Seeking $112 million, Ramchandani is the latest FX trader to sue Citi in the aftermath of the market-manipulation scandal.
Wednesday, 02/10/2019 | 15:59 GMT
by
Aziz Abdel-Qader
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Regulation
Court Dismisses Some FX Rigging Claims Against Credit Suisse
The investors believe the banks manipulated either the price for bids, offers, or spreads for currency spot trades.
Wednesday, 04/09/2019 | 20:34 GMT
by
Aziz Abdel-Qader
Regulation
Canada Regulator Fines RBC and TD Bank $24M in FX Rig Cases
FX traders at both banks shared trade sizes, timing, price, stop-loss levels in chatrooms
Friday, 30/08/2019 | 16:35 GMT
by
Aziz Abdel-Qader
Regulation
South Africa Regulators Need More Proofs in Rand Rigging Case
The competition tribunal also refused request to dismiss the cases against banks because of lack of evidence
Wednesday, 12/06/2019 | 15:28 GMT
by
Aziz Abdel-Qader
Regulation
Maurice Blackburn Launches Suit Against FX ‘Cartel’ Scandal
UBS, Royal Bank of Scotland, JPMorgan, Citibank, and Barclays were named in the class action.
Monday, 27/05/2019 | 06:47 GMT
by
Celeste Skinner
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Regulation
Global Banks Hit by EU Antitrust Fines on FX Abuses
While the EU’s investigation has lagged behind, other regulators imposed up to $10 billion in penalties.
Thursday, 09/05/2019 | 20:02 GMT
by
Aziz Abdel-Qader
Regulation
‘Cartel’ Traders Walk Free After Cleared in Forex Rigging Trial
The London-based trio allegedly created a chat group to manipulate the prices of currency exchange rates.
Friday, 26/10/2018 | 20:18 GMT
by
Aziz Abdel-Qader
Regulation
Former London-Based Forex Traders Wait for Verdict on Collusion Charges
The defense of the three accused men argued that their chats did not break the law.
Friday, 26/10/2018 | 07:09 GMT
by
Celeste Skinner
Regulation
Ex-Barclays FX Trader Urges Court to Toss HP Front-Running Charges
Prosecutors allege Bogucki placed trades ahead of HP sales to depress the price of the company’s options.
Monday, 30/07/2018 | 17:18 GMT
by
Aziz Abdel-Qader
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Regulation
Ex-HSBC FX Trader Mark Johnson Released on Bail, Returns to UK
Johnson was sentenced to two years in prison in April for devising a scheme to manipulate the price of the British pound.
Wednesday, 27/06/2018 | 18:54 GMT
by
Aziz Abdel-Qader
Regulation
Deutsche Bank Fined $205 Million by NY Regulator over Forex Violations
The US authorities opened its FX probe of Deutsche in 2014, focusing on conduct using their electronic trading platforms.
Wednesday, 20/06/2018 | 19:45 GMT
by
Aziz Abdel-Qader
Regulation
Brazil Watchdog fines Morgan Stanley, RBC Fined $11M for Rigging Real Spreads
In 2015, Cade accused a total of 15 banks of colluding to manipulate benchmark currency rates in Brazil.
Wednesday, 13/06/2018 | 21:35 GMT
by
Aziz Abdel-Qader
Regulation
Goldman Sachs Fined $110 Million to Settle New York FX Probe
Goldman's traders shared confidential information about FX orders placed by a customer referred to as “Satan.”
Tuesday, 01/05/2018 | 20:27 GMT
by
Aziz Abdel-Qader
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Regulation
FX Rigging Trial to Begin Next Year in South Africa as Regulator Needs More Time
The South African watchdog will allow the legal processes initiated to run their course early 2019.
Wednesday, 25/04/2018 | 16:33 GMT
by
Aziz Abdel-Qader
Regulation
London ‘Cartel’ Traders Petition US Court to Dismiss FX Rigging Charges
The indictment accuses the trio with conspiring to restrain trade from the end of 2007 through the beginning of 2013.
Tuesday, 27/03/2018 | 17:01 GMT
by
Aziz Abdel-Qader
Regulation
BNP Paribas Agrees to $90 Million Penalty in Settlement over Rigging of FX Markets
The move makes BNP one of the last big banks to reach a settlement for FX rigging.
Friday, 26/01/2018 | 17:06 GMT
by
Aziz Abdel-Qader
Regulation
Credit Suisse Fined $135 Million by New York Watchdog for Rigging FX Market
In one example cited by DFS, traders in the bank's eFX unit used algorithm to front-run clients' stop-loss orders.
Monday, 13/11/2017 | 21:13 GMT
by
Aziz Abdel-Qader
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Regulation
Ex-HSBC FX Trader Mark Johnson Found Guilty of Rigging $3.5 Billion Deal
A second Briton, Stuart Scott, who left HSBC in 2014, was named alongside Johnson as accused of the same crimes.
Monday, 23/10/2017 | 18:14 GMT
by
Aziz Abdel-Qader
Regulation
Federal Reserve Fines HSBC $175 Million for 'Unsafe FX Trading’
The UK lender had insufficient oversight and controls over its FX traders.
Friday, 29/09/2017 | 17:32 GMT
by
Aziz Abdel-Qader
Regulation
Deutsche Bank Agrees $190 Million Settlement in US FX Rigging Lawsuit
Deutsche Bank joins a line of global banks that have settled this year.
Friday, 29/09/2017 | 16:13 GMT
by
Aziz Abdel-Qader
Regulation
Deutsche Bank, Bank of America to Settle Charges Over Bond Rigging
Both banks agreed to a collective $65.5 million preliminary settlement following rigging allegations spanning a decade.
Friday, 18/08/2017 | 12:55 GMT
by
Jeff Patterson
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