Dec 01, 2015 The EU probe identified two separate cartels of traders — dubbed the “Three Way Banana Split” and “Essex Express” — that used online chat rooms to share information about customers’ orders, prices Financial scandal. The forex scandal (also known as the forex probe) is a financial scandal that involves the revelation, and subsequent investigation, that banks colluded for at least a decade to manipulate exchange rates for their own financial gain… May 20, 2015 As European bank stocks climbed last week, UBS slid 1.3 percent after news of the probe and as the firm warned that a surge in the Swiss franc and negative interest rates in the region may hurt profitability if they persist. UBS … Banks Are Set to Settle Probes Into Forex Trading Six Lenders Are Bracing for Multibillion-Dollar Series of Settlements; Scrutiny of Individuals Comes Next An illuminated UBS logo sits outside UBS
May 16, 2019 UBS Group AG escaped a fine because it was the first to tell regulators about the collusion. The five banks won reduced penalties by striking a
Swiss Target Credit Suisse, UBS In Global Forex Probe. By Evan Weinberger. more than 20 traders and other bank employees have been suspended or fired as part of the global forex collusion probe. Nov 20, 2013 · Goldman Sachs (GS), Citigroup (C), JP Morgan (JPM), Deutsche Bank (DB), Barclays (BCS), Royal Bank of Scotland (RBS), UBS (UBS) and HSBC (HBCYF) are among the firms in their sights. Financial Recently, UBS published details about a $100 million settlement relating to the currency markets, the bank outlined details in its 2014 Annual Report. FCA on Improving Accountability in Banking Sector. In the UK, the FCA issued a notification about new changes that aim to strengthen the regulatory environment for banking institutes. Nov 28, 2013 · 11:46 UBS to Restructure Forex Business; Co-head of Unit to Step Down -Memo. By Giles Turner, David Enrich and Ben Wright. UBS AG (UBS) is restructuring its foreign-exchange business, with the co-head of the unit stepping down, amid a burgeoning investigation into potential manipulation of currencies markets.
Mar 28, 2014 · UBS approached U.S. authorities in September with information relating to an industry-wide probe into alleged rigging of currency markets, in the hope of gaining antitrust immunity if charged with
Dec 02, 2015 · As many as seven UBS Group AG traders may face sanctions from Switzerland’s financial watchdog in the coming weeks UBS said on Wednesday it has settled a probe by U.S. authorities over alleged rigging of currency markets by agreeing to pay $545 million (351 million pounds) in combined fines and pleading guilty UBS said it has received inquiries from authorities probing the possible manipulation of foreign-exchange markets and is conducting a related internal probe. Deutsche Bank said it, too, was Mar 28, 2014 · The source said up to six UBS traders, including Velardi, had been suspended this week around the world as the Swiss bank tries to stay ahead of the wide-ranging probe. UBS is the world's fourth-biggest currency trader, according to the latest Euromoney poll, seeing just over 10 percent of the $5.3 trillion that flows through the global market Confiscation Probe Widened For Jailed Ex-UBS Employee. By Bonnie Eslinger. Law360, London (January 8, 2020, 2:36 PM GMT) Oct 08, 2014 · UBS, which has already suspended at least five traders in relation to the FX probe, approached authorities in the US in 2013 with information in the hope of gaining anti-trust immunity. UBS has the highest numbers of suspended traders – at least seven – across London, New York, Singapore and Zurich in the global probe against at least 15 banks. People close to the situation said
Sep 22, 2014 French court rules UBS must deposit 1.1B euro in tax probe. Posted On: ranging from foreign exchange price-rigging to embargo violations.
Sep 22, 2014 French court rules UBS must deposit 1.1B euro in tax probe. Posted On: ranging from foreign exchange price-rigging to embargo violations. Mar 5, 2014 Bank of England suspends worker in forex probe Internal and outmost probes engage UBS (UBS), Deutsche Bank (DB), Barclays (BCS) and Oct 4, 2013 Some 50% of the foreign-exchange market is controlled by four banks, according to Euromoney: Deutsche Bank, Citigroup, Barclays and UBS.
Sep 16, 2014 After several probes revealed FX dealers are leaking customer information measures are Royal Bank of Scotland, Goldman Sachs and UBS.
Market regulators in Asia, Switzerland, the United Kingdom, and the United States began to investigate the $4.7 trillion per day foreign exchange market (forex) after Bloomberg News reported in June 2013 that currency dealers said they had been front-running client orders and rigging the foreign exchange benchmark WM/Reuters rates by colluding with counterparts and pushing through trades before and during the 60-second windows when the benchmark rates are set. ZURICH, May 20 (Reuters) - UBS said on Wednesday it has settled a probe by U.S. authorities over alleged rigging of currency markets by agreeing to pay $545 million in combined fines and pleading