RBS releases documents over alleged currency manipulation
Jill Treanor, 09 October 2013
Royal Bank of Scotland has handed the City regulator messages sent by one of its former traders in the latest twist in an investigation into potential manipulation of currency rates.
The Financial Conduct Authority (FCA) began an investigation into the £3tn-a-day foreign exchange market in June following allegations that traders at major banks had found ways to manipulate a closely followed currency benchmark.
Swiss regulators have also begun to scrutinise the foreign exchange markets, regarded as among the most liquid in the world, sparking speculation that a number of major banks are facing questions about the way they traded leading currencies.
“It’s a fact that foreign exchange manipulation was committed,” Swiss finance minister Eveline Widmer-Schlumpf said.
