Britain's markets watchdog is holding talks with "relevant parties" over allegations of foreign exchange market manipulation by banks, a spokesman said on Thursday. "The Financial Conduct Authority is aware of these allegations and has been speaking to the relevant parties. However, we can't comment further at this time," an FCA spokesman told AFP. The Financial Times, citing sources, said the FCA had requested information from several banks with large London foreign exchange businesses following allegations that lenders had traded ahead of customer orders and attempted to manipulate benchmarks. Citigroup and Deutsche Bank, the two largest players in the foreign exchange market with a combined market share of about 30 percent, are among the banks which have been asked for information on the matter. However, there was no suggestion that the two banks were being specifically targeted, the business daily added. The FCA would not confirm any names. The development meanwhile comes as the European Commission is shortly expected to present proposals to tighten up oversight of key financial market benchmarks, especially of interest rates, in the wake of last year's Libor interbank rate-rigging scandal.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor