Five big banks are expected to face a combined bill of more than
$5 billion on Wednesday in a settlement with U.S. and U.K.
authorities over currency-market manipulation, Reuters reported
Tuesday.
J.P. Morgan Chase & Co. (JPM), Citigroup Inc. (C), Barclays
PLC (BCS, BARC.LN) and Royal Bank of Scotland Group PLC (RBS,
RBS.LN) are expected to plead guilty to U.S. criminal charges
related to foreign-exchange manipulation, Reuters reported, citing
people familiar with the matter.
UBS AG is expected to avoid a criminal charge after receiving
immunity for alerting on the issue, according to Reuters, but it
faces a criminal charge over rigging benchmark interest rates,
people familiar with the matter said.
Barclays is expected to settle with other British and U.S.
regulators as well, meaning its penalties could top $2 billion,
significantly higher than the other banks, Reuters said.
Full story at:
http://www.reuters.com/article/2015/05/19/us-banks-forex-settlement-idUSKBN0O42PJ20150519
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