Barclays Joins Other Banks In Cooperating In Forex Probes

Law360, New York (October 30, 2013, 2:06 PM EDT) -- British multinational financial services firm Barclays PLC on Wednesday joined several other big banks in revealing regulators are investigating their foreign exchange trading practices and that they have launched internal reviews, amid growing scrutiny of the banks' alleged manipulation of the foreign exchange markets.

In its quarterly update Wednesday, Barclays revealed that "various regulatory and enforcement authorities" in "various countries" have begun investigating the firm's foreign exchange trading activity, including alleged attempts to manipulate benchmark exchange rates in order to benefit its trading position.

"Barclays Bank...
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