JP Morgan has become the latest bank on the
wrong end of an unfair dismissal claim from its currency teams with Patrice
Ktorza, a former FX salesperson at the bank, reportedly winning his claim.
News, citing a copy of ...
Financial regulations, particularly for
benchmarks, are likely to be materially aligned in the UK and rest of Europe by
the time Brexit is completed, however obtaining “equivalence” status for the UK
might not be quite as straightforward, a number of ...
New York Attorney
General Eric Schneiderman has announced a $100 million, 44-state settlement
with Barclays Bank and Barclays for “fraudulent and anticompetitive conduct” involving
the manipulation of USD Libor (London Interbank Offered Rate) and other
benchmark interest rates.
During the period ...
The US Financial
Industry Regulatory Authority (FINRA) has fined Deutsche Bank $12.5 million for “significant supervisory
failures related to research and trading-related information it disseminated to
its employees…over internal speakers commonly known as squawk boxes”.
FINRA says that despite
Alongside last week’s publication of an update
on the Fair and Effective Markets Review (FEMR), the UK’s Financial Conduct
Authority (FCA) has separately published a progress report on its own FX
The programme, which was launched
The past year has seen “significant progress” in the implementation of the Fair and Effective Markets Review (FEMR) recommendations; however, “the job is far from being done” as a “lack of trust in financial markets” remains and the focus is ...
Former Barclays head of spot voice FX trading Chris Ashton claims
he was “scapegoated” by the firm in the wake of the investigations of the Financial
Conduct Authority (FCA) into alleged manipulation of FX rates, and that he was
It was announced today that State Street expects to pay a
total of $530 million to resolve FX fraud allegations levelled against the
The US Department of Justice (DoJ) issued a statement today
saying that State Street has agreed to ...
The US Commodity Futures Trading Commission’s (CFTC) Division of Clearing and Risk (DCR) has issued guidance to clearinghouses to further the development of recovery plans and wind-down Plans.
The CFTC says that for clearinghouses, or Derivatives Clearing Organisations (DCOs), ...
Mark Johnson, the head of global FX cash trading at HSBC and
Stuart Scott, former head of FX cash trading for EMEA at HSBC, have been officially
charged by the US Justice Department with conspiring to defraud HSBC clients by