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U.S. Justice Department raises stakes in forex probe

Section: Daily Dispatches

By Caroline Binham and Kara Scannell
Financial Times, London
Sunday, April 27, 2014

U.S. criminal prosecutors have flown to London to question individuals as part of their probe into the alleged rigging of foreign exchange rates in a sign that the stakes are getting higher for the traders involved in the sprawling probe.

The Department of Justice, in its first significant move since announcing in October that it would investigate alleged manipulation of the $5.3 trillion forex market, invited several UK-based currency traders "on the periphery" of the investigation to attend voluntary interviews in London rather than the U.S., according to three people familiar with the department's tactics. The UK financial regulator also requested attending the interviews.

The first wave of interviews took place in London at the beginning of the year but more are planned, the people said. ...

... For the full story:

http://www.ft.com/intl/cms/s/0/d6abe8be-cdff-11e3-bc28-00144feabdc0.html



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