Swiss Regulator Launches Probe Over FX Market Rigging

Law360, New York (October 4, 2013, 11:55 AM EDT) -- Swiss regulators on Friday said they are investigating whether several banks are rigging foreign exchange markets, the latest in a series of probes surrounding potential manipulation of benchmark rates.

The Swiss Financial Market Supervisory Authority, or FINMA, is looking into several Swiss financial institutions and working with authorities in other countries, "as multiple banks around the world are potentially implicated," the regulator said in a statement on Friday. It was not immediately clear which banks are being targeted nor the nature of their alleged manipulation of...
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