Investment firms affected by major FX rigging scandal at Barclays, Citi, RBS, JP Morgan and UBS are seeking compensation in the UK.
Swiss competition authority has fined Barclays, Citigroup, JP Morgan, RBS & MUFG a combined CHF 90 million for its role in rigging the FX spot market.
European Commission has fined Barclays, RBS, Citigroup, JP Morgan and MUFG a total of €1.07 million for involvement in FX trading cartel.
Neil Danziger has also been banned from the industry after manipulating Japanese Yen Libor submissions at RBS.
The CFTC found traders at RBS joked about manipulating the USD ISDAFIX benchmark.
Trading ‘Cartel’ charged with rigging FX spot market face up to 10 years in prison.
The charge for cash used as initial margin for listed derivatives trades will affect around 60 clients.
Paul White banned from regulated activities after letting derivatives traders influence his Libor submissions.