The forex fixers: £2bn fines levied in latest bank scandal
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- Forex scandal: 6 top banks to pay $6 billion fines.
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It symobilizes a website link url. Bank of America was fined by the Federal Reserve.
Banks face legal action in the UK over FX rigging scandal - The TRADE
It is commensurate with the pervasive harm done. The banks, which have been hit by billions of pounds of Libor fines in the last three years and admit they face further penalties for rigging other markets such as metals, faced a torrent of criticism. In what other sector would we tolerate the frequency and severity of such damaging behaviour?
Barclays was ordered to fire eight staff as part of a deal with the New York department of financial services — including a global head of trading — although other individuals are also expected to leave. The FCA said Barclays engaged in collusive behaviour with rivals and used chat rooms to manipulate rates secretly.
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- Forex scandal: 6 top banks to pay $6 billion fines | Arab News.
Top bankers lined up to offer apologies and their frustrations. Pleading guilty for such wrongdoing is another stark reminder of how badly this bank lost its way and how important it is for us to regain trust. We demand and expect better of our people.
