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US: 5 more banks settle forex claims

By  |  July 30, 2017

On July 28 in the US District Court in Manhattan, preliminary settlements were filed as Morgan Stanley, Royal Bank of Canada, Societe Generale, Standard Chartered Plc and Bank of Tokyo-Mitsubishi UFJ settle claims accusing them of having manipulated the foreign exchange market.

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    Friday’s settlements still need a judge’s approval, but if approved mean that 14 of the 16 banks sued have settled the claims.

    The settlements amounted to US$50 million for Morgan Stanley, US$15.5 million for RBC, US$18 million for Societe Generale, US$17.2 million for Standard Chartered and US$10.5 million for Bank of Tokyo for a total of US$111.2 million.

    As with previous settlements, the banks deny all allegations of wrongdoing.

    Full Content: Reuters

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