August 2018 – Page 2 – Financial Treason & Crime

Credit Suisse charged with rigging foreign exchange rates

Reuters Staff, 01 August 2018

Credit Suisse has been charged by European Union antitrust regulators with rigging foreign exchange rates, the Swiss bank said on Tuesday, a sign that the five-year long EU investigation may reach a conclusion in the coming months.

Credit Suisse said in its quarterly report it received notification from the European Commission on July 26 alleging that it “engaged in anticompetitive practices in connection with its foreign exchange trading business”. EU enforcers typically lay out charges of illegal activities conducted by companies before imposing fines which can reach 10 percent of their global turnover. Continue reading “Article: Credit Suisse charged with rigging foreign exchange rates”

EU Regulators Charge Credit Suisse with Rigging FX Markets

Celeste Skinner, 01 August 2018

Credit Suisse Group AG announced on Tuesday that it has been charged by European Union antitrust regulators with manipulating forex rates. The charges signal the five-year-long investigation might be coming to a close in the near future.

In a regulatory filing, the allegations state that Credit Suisse “engaged in anti-competitive practices in connection with its foreign exchange trading business.” Now, the Wall Street bank will need to wait and see if the EU regulators will impose a fine, which could be up to 10% of its global turnover. Continue reading “Article: EU Regulators Charge Credit Suisse with Rigging FX Markets”