in the past two years for manipulating benchmark interest rates and several more are being investigated. Global phenomenon, despite the antitrust probe lagging in the EU, regulators in the US, UK, and Switzerland have collectively issued around 10 billion in fines to banks. London dominates foreign exchange trading, accounting for.9 percent of global turnover last year, compared with.9 percent in the United States and.2 percent in Switzerland, according to Bank of International Settlements (BIS) data. Slideshow (5 Images wEKO opened a preliminary investigation last October after learning about potential manipulation of foreign exchange markets. The probe into currency trading could be even more costly. Switzerland's competition commission weko said on Monday it had opened an investigation into several Swiss, British and.S. The charges signal the five-year-long investigation might be coming to a close in the near future. However, if a bank chooses to settle, then it cant discuss the settlement as they might lose their right to the discount. UBS, JP Morgan, Barclays and Citi all declined to comment.
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Royal Bank of Scotland. His comments came as the bank reported a 34 fall in after-tax profits because of lower revenues from investment-banking activities, mainly based in Canary Wharf. An international investigation into rigging of benchmark interest rates has already led to heavy fines for banks. Credit Suisse says its satisfied the issue is now closed and says it will put in place more checks and stricter rules governing exchange rate setting. UBS last week suspended up to six FX traders, bringing the total number of traders suspended, placed on leave or fired to around. Go to article In similar cases, regulators in the EU have received up to nearly 2 billion (2.3 billion) in fines. Weko said it is investigating UBS, Credit Suisse, Zuercher Kantonalbank (ZKB Julius Baer, JP Morgan, Citigroup, Barclays and Royal Bank of Scotland. Only last month, a Swiss court ordered Credit Suisse to hand over jp indice de volatilité des forex de morgan currency data to the countrys competition regulator. Credit Suisse is active in over 50 countries and employs more than 46,000 people from approximately 100 different nations.