Reports say authorities involved in probing allegations of manipulation of the foreign exchange market are zeroing in on targets including Barclays, Citigroup and Royal Bank of Scotland.
An instant messaging group between the traders at the named banks is being scrutinized by regulators, according to four sources. The messages were exchanged over a period of three years through Bloomberg terminals.
Reports say the dealers at the banks made trades before forex benchmarks were established, according to the sources.
Over the three years, other banks became involved, including UBS. The information was received by reporters from traders not involved in the alleged scheme.
Now, authorities are looking into whether those instant messages amount to illegal manipulation of the market, the sources said.
Full content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI