Taking Stock Of How Much Banks Have Paid For Settling Forex Manipulation Charges

The first round of settlement talks featured five banks ? UBS, JPMorgan, RBS, Citigroup and HSBC ? and concluded last November after a series of investigations by the U.S. Commodity Futures Trading Commission, the British Financial Conduct Authority and the Swiss FINMA found several flaws in the way these banks run their foreign exchange units. These banks paid £1.1 billion ($1.77 billion) to the FCA. The CFTC fined them $1.48 billion to settle a string of forex-related charges leveled against ...