2 ms·
Not the first, this is the middle of the series, there have already been fines.
by justincormack 12y ago
Not the first, this is the middle of the series, there have already been fines.
- randomname2 12y agoSee also: http://www.wsj.com/articles/three-senior-traders-fired-amid-global-forex-probe-1413312358 http://www.wsj.com/articles/three-senior-traders-fired-amid-... (Oct. 14, 2014) http://www.fca.org.uk/news/fca-fines-five-banks-for-fx-failings http://www.fca.org.uk/news/fca-fines-five-banks-for-fx-faili... (Nov. 12, 2014) So the conventional wisdom was that this cartel involved almost exclusively bankers at the largest global banks including JPM, Goldman, Deutsche, Barclays, RBS, HSBC, and UBS. This new article finally links banks with the other two facets of this FX-rigging "triangle" cartel: private sector companies that have no direct banking operations yet who have intimate prop trading exposure, as well as central banks themselves.