Regulators are reportedly mulling plans to monitor the US offices of Barclays and Deutsche Bank as part of an ongoing investigation into claims that the banks and other major financial institutions manipulated the foreign exchange market.
The New York Department of Financial Services is reportedly seeking oversight of the banks’ US locations. The department is part of a global investigation into the claims, which includes authorities in the UK, Hong Kong and Switzerland.
Allegations that major banks colluded to fix currency prices on the forex market sparked the probes.
Full content: City A.M.
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