Tag Archive: Five banks to pay record $5.7bn fines over key rates manipulation – US regulator

Five banks to pay record $5.7bn fines over key rates manipulation – US regulator

Five banks to pay record $5.7bn fines over key rates manipulation – US regulator The world’s five biggest banks have been fined a total of $5.7 billion for manipulating foreign exchange markets. It’s the biggest combined bank settlement in history. Barclays, Royal Bank of Scotland, JPMorgan, UBS and Citigroup were hit with penalties from UK and US authorities Wednesday. Four of them agreed to plead guilty to criminal charges for rigging benchmark interest rates, the US Department of Justice said. All the banks have agreed to a three-year period of corporate probation, which, if approved by the court, will be… View Article