Five “Big Banks” Fined £2Billion Over Rigging Foreign Exchange Markets


Five of world’s biggest banks fined £2BILLION over rigging foreign exchange markets – but no bankers have been prosecuted

“State-owned Royal Bank of Scotland has been fined £217million ($344million) by the London-based Financial Conduct Authority (FCA) as well as £182million ($290million) by the US Commodity Futures Trading Commission (CFTC).

The others involved in the settlement are Citibank, HSBC, JPMorgan Chase and UBS, who will also pay hundreds of millions. Barclays said it continues to hold discussions with regulators.

More than 30 traders have been fired, suspended, put on leave, or resigned since the probes started, and the Serious Fraud Office has launched a criminal investigation – but there have been no arrests. “

Barclays will also be fined but they are still negotiating the punishment

Bankers were rigging the £3.5trillion-a-day foreign exchange markets

Not one Bankster jailed!

View original post