Tuesday, August 18, 2015

BANKS PREPARE FOR FX CLAIMS

Global banks are reportedly facing billions of dollars in civil claims over foreign exchange market rigging.

The Financial Times says lawyers are preparing cases in London, and that claims could also extend to Hong Kong and Singapore.

It follows a legal settlement in New York last week in which banks including Barclays, Goldman Sachs and HSBC agreed a $2bn dollar settlement with investors affected by rigging in the forex markets.

Laith Khalif of stockbroker Hargreaves Lansdown says that case could lead to more claims.

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