Wednesday, June 11, 2014

Forex rigging investigation expands to taint more banks

The media have reported that German regulators are expanding their investigation of forex rate manipulation beyond the small handful of banks known to be targets. According to Reuters, "all German banks with forex trading activities have been asked to conduct internal probes and to submit their findings" to the regulators.  In fact, even banks with a minor market share in the forex market, such as Commerzbank, is suspending their forex traders due to alleged attempted manipulation.

Does anyone out there wonder whether this controversy will reach beyond the money center banks and start touching the investment banks? 

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