A PYMNTS Company

Global: RBS bankers file motion to toss forex manipulation suits

By  |  August 3, 2014

Royal Bank of Scotland revealed late last week that several of its banks are defending themselves against allegations that they manipulated the foreign exchange benchmark.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    According to reports, an unspecified number of RBS bankers filed a motion in three separate lawsuits to dismiss the claims; three class actions were filed on behalf of banking customers from the US, Norway and South Korea accusing RBS and several other major financial institutions of manipulating forex rates for their own profit. All three cases are pending in US District Court.

    RBS revealed the motions to dismiss the cases in its results announcement.

    Full content: International Business Times

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.