$4B Forex Fines Are Just The Beginning For Banks

Law360, New York (November 12, 2014, 9:01 PM EST) -- Wednesday’s combined $4.2 billion in fines against six banks alleged to have rigged foreign exchange markets are just the beginning of what could be a string of settlements stemming from ongoing investigations into the multitrillion-dollar market.

The penalties announced by the U.S. Commodity Futures Trading Commission, the Office of the Comptroller of the Currency, the U.K. Financial Conduct Authority and Swiss market regulators targeted JPMorgan Chase & Co., Citigroup Inc., UBS AG, the Royal Bank of Scotland PLC, HSBC Holdings PLC and Bank of America Corp,...
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