Relevant:
- U.K. Talks on Currency-Rigging Settlement Accelerate
- UK prepares forex fines for six banks on Wednesday: sources
- NY regulator raises spectre of further forex penalties for banks
- Banks braced for billions more in civil claims over forex rate rigging, after just paying $2bn
- Dual Tracking Continues Could Cost Banks Millions in Fines
2014-09-27 — gata.org
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
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