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

Former ICAP brokers in court over Libor case

SFO alleges the men conspired to rig the London inter bank offered rate

UBS to pay half of profits to shareholders

Swiss bank set to be one of sector’s highest dividend payers


Banking weekly
Patrick Jenkins is joined by Daniel Schäfer to discuss the growing number of banks suspending staff over alleged foreign exchange manipulation
– Podcast

Singapore central bank link in FX probe

Deutsche employee suspended over MAS communication

Forex chiefs gather to fight regulation

Senior foreign exchange market executives seek to drive change

Bank disputes spur rise in court cases

Study shows cases rose to 1,353 in 2013 against 1,167 in 2012

Banks are stepping up the move away from archaic voice trading structures that are at the centre of forex probes
©Colin Beere

Automation gets fillip from forex rigging allegations

Buying and selling currencies over the phone is coming under renewed pressure

Finance briefing: Foreign exchange market and why it matters

The impact of rate rigging

The US class action lawsuit just preceded the Swiss competition regulator saying it had found signs of illegal activity
©Nick Lowndes

Joint lawsuit filed over forex claims

US investors have begun proceedings over alleged price rigging

HK and New Zealand launch forex probes

Hong Kong Monetary Authority asks banks to review operations

Swiss and UK step up forex probes

Weko to investigate eight banks; FCA looks at controls at lenders

UBS suspends six more forex traders

Swiss bank’s internal move extends to Singapore for first time

Thomson Reuters tightens FX trading rules

Group seeks to curb attempts at market manipulation

Tera sets up standards for Bitcoin swaps

Start-up’s agreement based on existing OTC contracts

WM/Reuters examines forex fix overhaul

Benchmark provider considers ways to prevent manipulation

Australia regulators probe forex market

Inquiry into allegations of price-rigging to take a year to complete

Big banks put forex bonuses on hold

Barclays, Citi and RBS suspend awards across whole teams

China relaxes controls on exchange rate

Renminbi trading band doubled to 2 per cent

New York has overtaken London in the rankings
©Getty Images

London loses top finance centre billing

New York overtakes capital amid fears over EU and regulation

FDIC sues banks over Libor manipulation

Regulator is looking for damages of about $1bn

HKMA censures UBS over Hibor rate

Swiss lender told to punish individuals and bolster regulation

NY Fed examined forex trade benchmarks

October 2012 minutes reveal efforts to understand reference rates

Top barrister to lead BoE forex inquiry

Lord Grabiner QC hailed as ‘right man for the most tricky jobs’

BoE accused of complacency over forex

Claims that bank failed to act promptly over rigging allegations

Carney vows to overhaul links with City

Bid to shore up Bank’s authority in wake of forex scandal

Forex probes set to dwarf Libor cases

Banks funding an army of specialists for internal probes

forex trader

Big banks face up to €10bn in legal costs

Forex probe likely to lead to more litigation expenses

BNP and BofA suspend forex traders

Sprawling global inquiry ensnares additional banks

The sign of the Don restaurant in St. Swithins lane, the City of London. For UK News.
©Charlie Bibby/FT

The Don, the BoE and the Forex traders

Meetings with industry were mostly held at upmarket restaurants

Treasury committee chairman Andrew Tyrie

Tyrie attacks ‘Byzantine’ BoE governance

Forex scandal highlights need to improve board’s role, says MP

Another cloud over Threadneedle Street

BoE must act decisively to deal with forex questions

FX scandal puts London’s reputation at risk

BoE involvement mirrors the affair it was drawn into over Libor

Forex scandal hits Bank of England

Central bank suspends employee as it launches new investigation

BoE had forex concerns since 2006

Issue of possible manipulation brought up at a few meetings

A trader talks on the phone in front of

RIP forex traders

Scandal-weary banks turn to computers

Forex investigations push trading online

Scandals accelerate switch to transparent platform

Andrew Tyrie MP, Chairman of the Treasury Select Committee, photographed in his office this afternoon.

BoE urged to put clamp on bank bonuses

City’s ‘new consensus’ on pay ‘seriously flawed’, says Tyrie

UK day-trading practices under scrutiny

FCA is looking at 40 banks, brokers and asset managers

Regulator penalises FXCM twice

FCA hits group with a total of £10m in charges

Why would anyone trade forex?

The odds are stacked against the retail investor

Banks review rules for forex traders

Policies on ‘private account’ trading could be tightened amid probes


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