The Australian Securities and Investment
Commission (ASIC) has begun legal proceedings against ANZ for “for unconscionable conduct and market
manipulation” surrounding its involvement in the local rate setting process the
Bank Bill Swap (BBSW) reference rate fixing.
ASIC accuses ANZ ...
Barclays has agreed to
pay $50 million to settle a lawsuit in a US court claiming that it used “last
look” functionality to disadvantage its clients.
Profit & Loss previously reported in November 2015 that Barclays
and Deutsche Bank were facing class action ...
The Federal Reserve
Bank of New York has reappointed William Dudley and Michael Strine as president
and first vice president of the bank, respectively. Eligible members of the
Bank’s board of directors voted unanimously to reappoint the two men ...
One of two former ANZ
traders who were suing the bank for unfair dismissal has dropped his claim.
In a statement, ANZ
says that Patrick O’Connor has decided to “discontinue his legal action against
The unfair dismissal
hearing of a second former Citi FX trader has been told that the bank
encouraged its traders to “build and maintain two way relationships with traders
at other banks in order to gain information about market flows ...
Former Royal Bank of Scotland FX trader Ian
Drysdale who has sued the bank for unfair dismissal has won his case, but has
failed to win any financial compensation.
In the judgement, Judge James Tayler found
that there had been ...
Seabury Financial Solutions has entered
into an agreement for a joint product offering between its FXone execution and
liquidity management solution and ECN Spotex.
The firms say the offering
will leverage FXone’s distribution footprint and Spotex’s price aggregation ...
results of their semi-annual FX volume surveys today, six central
bank-affiliated foreign exchange committees reveal overall declines in trading
volume during October against April 2015.
committees in Japan, Singapore and Australia reported an increase in trading
Bank of England Governor Mark Carney
said today that current market conditions do not yet warrant a tightening of
monetary policy and that recent developments, both domestic and global, suggest
that the Bank’s long-held inflation target will take longer ...
Barclays is the latest bank to face an
unfair dismissal case brought by a former FX trader – the case will be heard
just after the second case brought by a dismissed Citi FX trader.
According to documents released by the ...