Search Results for: Federal Trade Commission
FCA fines Barclays £284,432,000 for forex failings
May 20th, 2015
The Financial Conduct Authority (FCA) has imposed a financial penalty of £284,432,000 on Barclays Bank Plc (Barclays) for failing to control business practices in its foreign exchange (FX) business in London. This is the largest financial penalty ever imposed ...
Six Banks Pay $5.8 Billion, Five Plead Guilty to Market Rigging
May 20th, 2015
Six of the world’s biggest banks will pay $5.8 billion and five of them agreed to plead guilty to charges tied to a currency-rigging probe as they seek to wind down almost half a decade of enforcement actions. Citicorp, ...
Dollar pushes higher but near lows after downbeat U.S. data
May 18th, 2015
* Output, consumer confidence data back bets that Fed will wait * IMM data show speculators continued to trim long dollar bets * DXY vulnerable to further near-term correction-strategist * Kiwi skids after tax news raises rate-cut speculation The ...
U.S. SEC a stumbling block in banks’ forex guilty pleas – sources
May 15th, 2015
Banks want assurances from U.S. regulators that they will not be barred from certain businesses before agreeing to plead guilty to criminal charges over the manipulation of foreign exchange rates, causing a delay in multibillion-dollar settlements, people familiar with ...
Banks Expected to Settle FX Probes for Billions
May 7th, 2015
Citigroup Inc., Barclays PLC, J.P. Morgan Chase & Co. and Royal Bank of Scotland Group are expected to plead guilty to rigging foreign-currency exchange rates and pay billions in combined penalties. Four big banks are expected to plead guilty ...
Asia up after dismal U.S. jobs data, dollar pressured
April 6th, 2015
Asian shares rose and the dollar steadied but remained under pressure on Monday, after a dismal U.S. jobs report led investors to pare bets the U.S. Federal Reserve would hike interest rates anytime soon. Major European markets were closed from Friday to ...
Citibank Seen as Target for Plea in U.S. Currency Case
April 3rd, 2015
The U.S. Department of Justice is pressing for Citigroup Inc.’s main banking subsidiary to plead guilty to a felony tied to the rigging of foreign-exchange markets, according to two people briefed on the matter. Citigroup has countered with an ...
SEC Charges Nearly Two Dozen Unregistered Broker-Dealers
March 27th, 2015
The Securities and Exchange Commission today charged nearly two dozen companies and individuals who regularly bought and sold securities on behalf of a suburban Chicago-based trading firm without registering with the SEC as a broker-dealer as required under the ...
Why liquidity is drying up in the currency market
March 25th, 2015
Sovereign bonds aren’t the only market facing a liquidity shortage. As volatility in the foreign-exchange market has risen over the past eight months, currency traders are finding that liquidity has become much patchier than it once was. Several factors, ...
Speech by Mario Draghi, President of the ECB at SZ Finance Day 2015
March 17th, 2015
Summary Europe needs to accelerate on its way to economic and institutional convergence. Due to falling oil prices, accommodative monetary policy and successful structural reforms, we can be optimistic about the economic outlook. The nascent recovery should be used ...
