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FX dealing in the spotlight

Authorities in Switzerland, the UK, Hong Kong and the US are investigating whether some of the biggest banks in the world rigged the foreign exchange market. There are concerns that these new regulatory probes will find practices or patterns similar to the Libor rigging scandal

Barclays sets aside £500m for forex probe

Investment bank decline limits rise in third-quarter profit

UBS books $2bn litigation charge

Net income rises almost a third in June-September quarter

Multimedia

Explore the 30 traders and staff who so far have been suspended, placed on leave or fired amid regulatory investigations that started in 2013
– Graphic
Banking weekly
Patrick Jenkins is joined by Daniel Schäfer to discuss the growing number of banks suspending staff over alleged foreign exchange manipulation
– Podcast

City facing more than ‘a few bad apples’

Scandals like forex probe rubbing salt in wounds, says BoE deputy

Banks warned of stiffer penalties

Fed official says Wall Street not doing enough to end misconduct

City watchdog in private warnings blitz

Financial Conduct Authority issues 62 so far this year

week in review

Week in Review, October 18

UBS, EDF, Abbvie and Shire, and luxury groups featured

UBS in US talks over forex probe deal

Swiss bank could become first lender to settle with DoJ

JPMorgan sets aside $1bn as penalties loom

Legal reserves over alleged market manipulation depress earnings

FCA accuses banks of forex failings

Watchdog has outlined control lapses ahead of negotiations

Rabobank suspends 2 London forex traders

Dutch lender takes action after internal probe

Market fixing inquiry gathers pace

Investors are becoming increasingly alert to every step regulators take

Banks pull out of dozens of benchmarks

Withdrawals in wake of rate scandals could leave investors blind

Benchmark boycott shows regulatory risk

Fines are growing in tandem with presumptions of wrongdoing

Forex markets face further regulations

New rules to address conflicts of interest in banks

UBS warns of fines after forex probe

Swiss bank says some authorities have initiated settlement talks

Six banks in UK talks over forex fines

FCA poised to set penalties in hundreds of millions of pounds

Six banks in UK talks over forex rigging fines

Aim to reach a settlement by the end of year

Doubts raised over global forex platform

Critics say it could hamper competition and innovation

Singapore must keep its reform edge

Island-state must stay on its guard to keep its regional edge

SFO gears up for forex trading probe

Launch could come before end of month

Financial watchdog warns of more fines

Wheatley notes industry’s capacity to ‘surprise with bad conduct’

A utility for foreign exchange trading

FSB idea could help draw a line under forex scandal

Regulators push for wider forex fix time

One of 15 proposals by FSB to overhaul market

FCA squeezes life from payday lending

Capping spiralling interest charges will not boost competition

Interactive: the forex inquiry network

US offers immunity to forex traders

DoJ hopes London staff will swap information for protection

Compliance cannot save forex from red tape

Libor scandal has turned a spotlight on benchmark rigging

Barclays chairman warns on FX regulation

Sir David Walker calls for fine-tuning rather than draconian reform

Banks speed up shift to forex automation

Drive to slash costs and reduce risk of further scandals

Citi forex head Feig joins exodus

Departure comes shortly after that of Anil Prasad

Bank of England adds 581 to payroll

Staff headcount rises 30% over the past two years

Osborne to toughen rules on market abuse

Plans to make forex and other manipulation a criminal offence

Deutsche Bank warns on forex probes

Lender says financial exposure could be ‘material’

Osborne plans tougher forex oversight

Chancellor set to propose reforms for financial benchmarks

Commerzbank suspends 2 currency traders

Bank finds evidence of attempts to control euro and Polish zloty

BaFin advances twinning of finance hubs

Forex scandal likely to follow same arc as the Libor probes

Germany finds evidence of forex rate-fixing

Brussels charges three more over cartel

BaFin finds forex manipulation evidence

German regulator is first to confirm it has spotted wrongdoing

Deutsche Bank uses video to lash traders

Investment bank co-head ‘has lost patience’ with boasting and vulgarity

Two arrested in Australia forex probe

Police have charged a government employee and a banker

ABOUT LIBOR

Libor explained What is the London interbank offered rate and how did things go wrong?

The FT explains Libor and its role in the banking system with exclusive stories, commentary and analysis

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