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Articles tagged by Rigging

Banks Face More Legal Action – This Time Over Sibor Three years after the Monetary Authority of Singapore (MAS) sanctioned 20 banks and 133 traders over breaches in good conduct regarding the local interest rate fixing (Sibor), two US investment funds filed a class action lawsuit in New York on Friday (July 1) ...
US Fed Bans Former FX Trader From Banking The US Federal Reserve Board has banned former Barclays and UBS FX trader, Matthew Gardiner, from working in the banking industry for his manipulation of FX pricing benchmarks. The board says that from January 2008 until at least January 2013 that Gardiner “...
FX Trader Arrest: Do Not Pass Go, Do Not Collect $8m Two UK-based FX traders have been charged with wire fraud by the US Department of Justice, one of which has been arrested in New York. Galen Stops reports on the case. On July 19, Mark Johnson, the head of global FX cash trading at HSBC, was arrested at New York’s JFK airport in connection with an ongoing investigation by the US Department of Justice (DoJ) into currency rigging. Two days later, the DoJ officially brought charges against Johnson and Stuart Scott, former head of FX cash trading for EMEA at HSBC, for wire fraud.