Swiss Target Credit Suisse, UBS In Global Forex Probe

Law360, New York (March 31, 2014, 2:21 PM ET) -- Swiss competition regulators on Monday announced that they had opened a probe of potential collusion in foreign exchange trading at eight banks worldwide, including Credit Suisse AG, UBS AG and Citigroup Inc.

The announcement by the Swiss Competition Commission is the latest in a string of investigations by regulators worldwide into allegations of rigging of key foreign exchange benchmarks. In a statement, the commission said that it had turned up “indications” of improper agreements to set rates for several currencies among traders and others at the...
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