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Subjects / Regulatory Relations

Financial Stability Board enters FX investigation

Staff | March 12, 2014

BASEL – The Financial Stability Board (FSB) has announced a review of the use of benchmarks in the foreign exchange (FX) markets, as investigations in the US and Europe into their alleged manipulation gather pace. A number of FX traders at major global banks, together with one official from the Bank of England, have so far been suspended since investigations started in 2013. This follows a round of multibillion-dollar fines over the manipulation of Libor interest rate benchmarks during 2012 and 2013.

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