UBS, Deutsche Bank Targeted In Forex Investigations

Law360, New York (October 29, 2013, 6:54 PM EDT) -- UBS AG and Deutsche Bank AG revealed Tuesday that regulators are investigating their foreign exchange trading activities and that the banks have launched their own internal reviews, as questions into big banks' alleged manipulation of foreign exchange markets multiply.

In its quarterly financial filings Thursday, Swiss firm UBS said it "immediately commenced an internal review" of its foreign exchange trading activities following media reports of "widespread irregularities" in the foreign exchange markets in June, including reports that traders at large banks had schemed to fiddle with...
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