Icap Dismissed from Euribor Class Action – Profit & Loss
Nex Group says that the United States District Court in the Southern District of New York has dismissed two entities which formed part of the Icap Group (Icap plc and Icap Europe Limited) from a class action case brought by various investors who alleged manipulation of the Euro Interbank Offered Rate, Euribor. Read More
Fourth Trader Wins Unfair Dismissal Claim Against Citi – Profit & Loss
Baris Ozkaptan has become the fourth former Citi FX trader to win a claim of unfair dismissal against the bank.
FXPA Elects New Officers, Board Members – FXPA
The Foreign Exchange Professionals Association (FXPA) is pleased to announce the results of its elections, which took place last week, and resulted in a slate of new Board members, as well as four officers to serve on the FXPA’s Executive Committee (ExCom). Read More
WASHINGTON, D.C., February 23, 2017 – The Foreign Exchange Professionals Association (FXPA) is pleased to announce the results of its elections, which took place last week, and resulted in a slate of new Board members, as well as four officers to serve on the FXPA’s Executive Committee (ExCom). Read More
Dollar Falls After Fed Minutes – Wall Street Journal (subscription)
The dollar dropped after minutes from the Federal Reserve’s latest meeting disappointed some investors.
Ex-Forex Traders in Singapore Get Jail Time for Cheating Banks – Bloomberg
Two former currency traders from Deutsche Bank and HSBC Holdings were sentenced to jail terms of as long as 15 weeks for cheating the banks by making false trades. Read More
South African Watchdog Fines Citi 69.5 Million Rand to Settle Currency Rigging Probe – Reuters
South Africa’s Competition Commission has fined the local arm of Citigroup 69.5 million rand (£4.2 million) for its role in a foreign currency trading cartel, the regulator said. Read More
Traders at BofA to Credit Suisse Named in Rand-Conspiracy Probe – Bloomberg
Dozens of currency traders at some of the world’s biggest banks, from Credit Suisse Group to Bank of America, have been named in a South African probe into an alleged scheme by the dealers to manipulate the value of the rand. Read More
Sterling Drops on Weak UK Retail Sales Under Brexit Shadow – Reuters
Sterling sank to a 10-day low against the euro after a surprise third monthly fall running in British retail sales pointed to weakening consumer sentiment as the government gets ready to launch talks on leaving the European Union.
South Africa Sues Banks Over FX Collusion – Profit & Loss
South Africa’s Competition Commission says it is commencing prosecution proceedings against 14 banks over alleged collusion in ZAR markets.