DoJ seeks felony pleas by big banks in foreign currency inquiry: NYT
February 10, 2015 8:03 am
Some big banks are being pushed by the U.S. Department of Justice to plead guilty to criminal charges that they manipulated foreign currencies prices, the New York Times reported.
Federal prosecutors have recently informed Barclays, JPMorgan Chase, the Royal Bank of Scotland and Citigroup that they must enter guilty pleas to settle the cases, the newspaper reported.
Representatives of Citigroup, JP Morgan, RBS and Barclays did not respond to emails seeking comment on the report.
Last November, regulators fined six major banks a total of $4.3 billion for failing to stop traders from trying to manipulate the foreign exchange market, following a yearlong global investigation.
Some
big banks are being pushed by the U.S. Department of Justice to plead
guilty to criminal charges that they manipulated foreign currencies
prices, the New York Times reported.
Federal prosecutors have recently informed Barclays, JPMorgan Chase,
the Royal Bank of Scotland and Citigroup that they must
enter guilty pleas to settle the cases, the newspaper reported.
Representatives of Citigroup, JP Morgan, RBS and Barclays did not
respond to emails seeking comment on the report.
Last November, regulators fined six major banks a total of $4.3
billion for failing to stop traders from trying to manipulate the
foreign exchange market, following a yearlong global investigation.
Read
more at: http://www.reuters.com/article/2015/02/10/us-doj-banks-forex
The material has been provided by InstaForex Company – www.instaforex.com
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