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3 Banks To Pay Combined $47M In CFTC Spoofing Settlement

Law360, New York (January 29, 2018, 11:07 PM EST) -- Global banking giants Deutsche Bank, UBS and HSBC agreed to pay a combined $46.6 million Monday to settle separate civil allegations by U.S. commodities regulators that their traders engaged in an illegal practice known as spoofing in an effort to manipulate precious metals markets.

The settlements, in which Deutsche Bank AG will pay $30 million, UBS AG $15 million and HSBC Securities $1.6 million, were reached with the U.S. Commodity Futures Trading Commission. (AP) The settlements, in which Deutsche Bank AG will pay $30 million, UBS...
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