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Barclays, HSBC and RBS are among a group of 12 banks being accused in a US class-action suit for rigging foreign-exchange (Forex) prices. The class-action lawsuit was filed late Tuesday in New York by a group of investors from across the US and the Caribbean and included city and state pension pla
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NEW YORK, April 1 (Reuters) - Twelve large banks have been sued in a consolidated antitrust lawsuit by investors who claim they conspired to rig prices in the roughly $5.3 trillion-a-day foreign exchange market. Investors, including the city of Philadelphia and a variety of pension funds an
Read moreBy Jamie McGeever LONDON, April 1 (Reuters) - The global investigation into
allegations of currency market manipulation intensified and
spread its net on Tuesday, as regulators in Hong Kong and New
Zealand said that they are investigating banks' conduct in the
foreign exchange market.
* Banks asked to conduct independent reviews * HKMA speaking to other regulators * 30 traders globally suspended in probe so far (Adds details on suspended trader at Deutsche Bank, background on investigations) By Rachel Armstrong April 1 (Reuters) - Regulators in Hong K
Read moreEngineering group Weir could be on the verge of a blockbuster 8.5bn pound merger with Finnish rival Metso. Like its Scottish rival it manufactures industrial pumps and valves for the global oil and gas mining markets. It is thought that Weir could be prepared to pay as much as 30 euros per share for
Read moreBy Jamie McGeever March 31 (Reuters) - Deutsche Bank AG, the world's largest currency trader, has placed on leave a director of institutional foreign exchange sales as part of an internal investigation into potential exchange rate manipulation, a source familiar with the matter said on Mond
Read more* BoE's Bailey: insurance sector well-placed for annuity change * Bailey reiterates that BoE vigilant on housing market By Huw Jones LONDON, March 31 (Reuters) - Banks still need to be persuaded that well-capitalised lenders are important to economic growth, Bank of England Depu
Read more* Swiss competition body opens probe into eight banks on FX * "Evidence exists that banks colluded" on FX rates -WEKO * UK FCA to assess if banks have cut benchmark rigging risk * FX market could take years to recover - industry chief (Adds details from UK financial watchdog)<
Read moreBy Jamie McGeever LONDON, March 31 (Reuters) - Switzerland's competition commission WEKO said on Monday it had formally opened an investigation into eight Swiss, U.S. and British banks over potential collusion to manipulate foreign exchange rates. The unfolding scandal has so far seen
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Bern (Alliance News) - The Swiss Competition Commission said it started a formal investigation on Monday against eight banks for possible manipulation of major currency rates. The suspects include Swiss banks UBS and Credit Suisse as well as major foreign lenders. "There is evidence t
Read moreLONDON, March 31 (Reuters) - Britain's financial industry watchdog plans to step up its scrutiny of whether banks have strong enough controls on their traders behaviour and if lessons have been learned from recent Libor rigging controversies. The Financial Conduct Authority (FCA) said the r
Read moreZURICH, March 31 (Reuters) - Switzerland's competition watchdog said on Monday it had opened an investigation into several Swiss, British and American banks over possible collusion to manipulate foreign exchange rates. WEKO said it is investigating UBS, Credit Suisse , Zuercher Kantonal Ban
Read moreBy Dena Aubin NEW YORK, March 28 (Reuters) - A federal judge in Manhattan has ruled that a group of international banks must face complaints that they violated the U.S. Commodity Exchange Act by manipulating yen-denominated interest rate benchmarks between 2006 and 2010. In a ruling o
Read more(Adds more detail, background) By Huw Jones LONDON, March 28 (Reuters) - Britain's financial regulators will examine whether computer systems used by the country's banks and building societies are fit for purpose, after a succession of problems which left millions of customers unable
Read moreLONDON, March 28 (Reuters) - Britain's financial regulators will examine whether computer systems used by the country's leading banks are fit for purpose after a string of glitches that angered millions of customers. The Financial Conduct Authority, the Bank of England and its Prudential Re
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