The feasting continues...
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In one of the darkest days in the histories of the City and Wall Street, six major banks were have been fined a total of £2.6bn by regulators. A seventh, Barclays, is still in talks over the size of its penalty.
The punishments came after an inquiry by watchdogs in Britain, the US and Switzerland into rigging of the foreign-exchange market. Over £3trn is traded daily on the international currency market, and the banks’ traders were found to have manipulated prices.
What was shocking, even by the standards of the scandals of the past few years, was what regulators portrayed as the arrogance of the bank employees. They formed groups and gave themselves nicknames such as “the A team”, or “the Three Musketeers”. They communicated with each other via chatrooms.
And.....Banks pay out £200bn over six years: a history of banking misdeeds and fines from Libor rigging and sanction busting to forex manipulation, a look back at the global banking industry’s offences and penalties To view the link you have to Register or Login
To view the link you have to Register or Login
In one of the darkest days in the histories of the City and Wall Street, six major banks were have been fined a total of £2.6bn by regulators. A seventh, Barclays, is still in talks over the size of its penalty.
The punishments came after an inquiry by watchdogs in Britain, the US and Switzerland into rigging of the foreign-exchange market. Over £3trn is traded daily on the international currency market, and the banks’ traders were found to have manipulated prices.
What was shocking, even by the standards of the scandals of the past few years, was what regulators portrayed as the arrogance of the bank employees. They formed groups and gave themselves nicknames such as “the A team”, or “the Three Musketeers”. They communicated with each other via chatrooms.
And.....Banks pay out £200bn over six years: a history of banking misdeeds and fines from Libor rigging and sanction busting to forex manipulation, a look back at the global banking industry’s offences and penalties To view the link you have to Register or Login
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