CFTC's Paltry Budget Spurs Quick End To Forex Probe

By Ed Beeson (November 12, 2014, 7:30 PM EST) -- The budget crunch at the U.S. Commodity Futures Trading Commission helped force the agency's hand in reaching settlements with banks over the attempted manipulation of foreign currency exchange rates, but experts say it's far from clear what the regulator gave up to quickly close the cases.

On the surface, the agency scored a big victory on Wednesday. In the first enforcement actions in a high-profile, global probe, the CFTC was able to extract a combined $1.4 billion in penalties from five banks — UBS AG, JPMorgan Chase Bank NA, Royal Bank of Scotland PLC, HSBC Bank PLC and Citibank NA — as...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!