Arab Today, arab today hsbc dismisses london forex chief
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

HSBC dismisses London forex chief

Arab Today, arab today

Arab Today, arab today HSBC dismisses London forex chief

HSBC's head of currency trading for Europe
London -AFP

HSBC has dismissed its London-based European head of currency trading, a source close to the matter said Wednesday, one month after the bank was fined for foreign exchange market rigging.
Stuart Scott, HSBC's head of currency trading for Europe, Middle East and Africa, was dismissed on Tuesday, the source confirmed.
A company spokesperson declined to comment when contacted by AFP.
In November, six US and European banks -- including HSBC -- were fined a total of $4.2 billion (3.39 billion euros) by regulators for attempting to rig forex markets.
HSBC itself was fined a total of $618 million by British and US regulators.
The hefty fines followed a worldwide probe into the scandal over the $5.3 trillion per day forex market, around 40 percent of which takes place in the British capital.
Britain's HSBC and Royal Bank of Scotland (RBS), US peers Citigroup and JPMorgan Chase, and Swiss lender UBS were all fined by Britain's Financial Conduct Authority (FCA) and the US Commodity Futures Trading Commission (CFTC).
The FCA found that, between January 1, 2008, and October 15, 2013, "ineffective controls" at the five banks allowed their G10 forex traders to put their banks' interests ahead of those of their clients, other market participants and the wider UK financial system.
British rival Barclays -- at the heart of the 2012 Libor rate-rigging affair -- was not included in the settlements and remains under investigation.
The Swiss Financial Market Supervisory Authority (FINMA) also announced a settlement of 134 million Swiss francs ($139 million) with UBS for the rigging misconduct.
In addition, the US Office of the Comptroller of the Currency fined JPMorgan, Citigroup and Bank of America $950 million.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hsbc dismisses london forex chief Arab Today, arab today hsbc dismisses london forex chief

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hsbc dismisses london forex chief Arab Today, arab today hsbc dismisses london forex chief

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday