UK Regulators Reviewing Alleged FX Market Rigging

Law360, New York (June 12, 2013, 4:10 PM EDT) -- Financial regulators in the U.K. on Wednesday said they are reviewing allegations that traders at several big banks were involved in a scheme to rig foreign exchange benchmarks and could open a formal investigation into the reported practices.

The Financial Conduct Authority, Britain's market enforcement agency, said it was aware of the alleged manipulation of the WM/Reuters platform prior to the release of a Bloomberg News story Wednesday that found traders were pushing client foreign currency trades before and while the exchange rates on those currencies...
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