Six banks in UK talks over forex manipulation fines
By Caroline Binham
Financial Times, London
Friday, September 26, 2014
LONDON -- Six banks have entered settlement discussions with the UK's main markets regulator over the alleged manipulation of foreign exchange in what could amount to record fines.
Each of the banks -- Barclays, Citigroup, HSBC, JPMorgan Chase, Royal Bank of Scotland, and UBS -- are facing fines in the hundreds of millions of pounds from the Financial Conduct Authority, according to people familiar with the situation.
The settlement talks, which typically last eight weeks, are only with the FCA and do not include the United States or any other domestic regulator. ...
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