Five megabanks agreed to pay more than $4.2 billion in penalties to settle charges by U.S. and European regulators of attempting to manipulate global foreign-exchange benchmark rates.
Characterizing the misconduct as “egregious and brazen,” Aitan Goelman, the U.S. Commodity Futures Trading Commission director of enforcement, in a conference call with reporters said the banks “figured out how to game the system, and manipulated it to benefit themselves.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
