The Financial Conduct Authority (FCA) is investigating alleged price manipulation in the foreign exchange market that took place after the Libor fixing scandal.
The FCA is known to be investigating a number of financial institutions, with RBS being one of them.
Back in April, RBS passed on emails from a traders who called themselves “The Cartel” and “The Bandits’ Club”.
“As part of this we are gathering information from a wide range of sources including market participants. Our investigations are at an early stage and it will be some time before we conclude whether there has been any misconduct which will lead to enforcement action,” an FCA spokesman said.
- Follow us @LondonlovesBiz
- Try our free newsletter
You need to read:
Rogue Traders: the worst ever
Five whopping great corporate fines – and the scandals that incurred them
Leave a Comment