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Six banks in UK talks over forex manipulation fines

IMG Auteur
Chris Powell
GATA
Published : September 26th, 2014
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Category : GoldWire

LONDON -- Six banks have entered settlement discussions with the UK's main markets regulator over the alleged manipulation of foreign exchange in what could amount to record fines.

Each of the banks -- Barclays, Citigroup, HSBC, JPMorgan Chase, Royal Bank of Scotland, and UBS -- are facing fines in the hundreds of millions of pounds from the Financial Conduct Authority, according to people familiar with the situation.

The settlement talks, which typically last eight weeks, are only with the FCA and do not include the United States or any other domestic regulator. ...

... For the remainder of the report:

http://www.ft.com/intl/cms/s/0/3f60230a-4562-...144feabdc0.html
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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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