EU fines Barclays, Citi, JP Morgan, MUFG and RBS $1.2 billion for FX rigging | Reuters


Barclays, Citigroup, JP Morgan, MUFG and Royal Bank of Scotland were fined a combined 1.07 billion euros ($1.2 billion) by the European Union on Thursday for rigging the multi-trillion dollar foreign exchange market.

Banks have been hit with billions of dollars in penalties worldwide over the last decade for the rigging of benchmarks used in many day-to-day financial transactions, further damaging the industry’s fragile reputation after the financial crisis.

Source: EU fines Barclays, Citi, JP Morgan, MUFG and RBS $1.2 billion for FX rigging – Reuters

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