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UK regulator launches currency-rigging probe

Posted on 17 October 2013

The British market regulator has begun an investigation into allegations staff at major banks have attempted to manipulate foreign exchange markets. The Financial Conduct Authority (FCA) confirmed it was at the “early stage” of an inquiry into potential rigging of the $5.3 trillion (£3.3 trillion) daily global trade in currencies as part of an international probe into what could be the next scandal to hit the banking industry.
In a statement the FCA responded to mounting speculation that it had launched a probe, admitting it had started “gathering information from a wide variety of sources including market participants”………………………………………..Full Article: Source


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