Banks to pay $3.4 billion fine

  • Five leading banks are to pay American and British regulators a fine totalling $3.4 billion over rigging in the foreign exchange markets. 
  • Five banks who took part in alleged manipulations are RBS, HSBC, UBS, JP Morgan and Citigroup. 
  • UBS also fined by the Swiss banking regulator; UK investigation into Barclays continuing.
  • Bank of England announces is had fired its chief foreign exchange dealer for serious misconduct not related to FX; BoE also issued report on trade rigging.  

BoE Report