Credit Suisse Pays $135 Million to Settle New York FX Probe
Greg Farrell, 13 November 2017
Credit Suisse AG will pay $135 million to resolve currency-manipulation allegations by New York’s banking regulator, the latest echo from authorities’ long-running scrutiny of foreign-currency trading at big banks.
Traders at the Zurich-based bank, prodded by executives in some cases, shared information about clients’ currency orders, talked to traders from other banks and in some instances front-ran customer orders in an effort to boost the bank’s own profits, New York’s Department of Financial Services said as it announced a settlement on Monday.
