Switzerland: Regulator fines banks for fixing forex trading

Switzerland: Regulator fines banks for fixing forex trading

Five banks have been fined a total of 90 million Swiss francs (US$90.9 million) for colluding to rig the foreign exchange market, Switzerland’s competition authority announced on Thursday, June 6. The fines are the latest fall out from a scam which led to them being fined €1.07 billion (US$1.20 billion) last month by the European […]

UK: JPMorgan approach Worldplay in potential deal

UK: JPMorgan approach Worldplay in potential deal

Worldpay, Britain’s largest payment processor, on Tuesday received rival bid approaches from US credit card technology firm Vantiv and JPMorgan Chase Bank, sending its shares up by more than 25%. The bid approaches show how automated payments specialists have become attractive targets for credit card companies, banks and technology firms seeking to capitalize on the […]

South Africa: Banks object to forex complaints

South Africa: Banks object to forex complaints

Some of the banks accused of manipulating trades in the rand are objecting to the complaint by South Africa’s Competition Commission, calling it vague and embarrassing, and demanding it be amended or dropped “The commission has failed to plead the material facts necessary to sustain the allegation that there was an agreement, or agreements,” between […]