Several banks have already agreed to pay billions of dollars to settle charges in that scandal.
The head of Britain's Financial Conduct Authority told a parliamentary panel Tuesday that the allegations were comparable to the case on the rigging of Libor, the key London interbank interest rate that anchors financial deals worldwide.
Investigators suspect that traders from different banks may have used chat rooms to share information about trades in ways that benefited their positions. New York state's financial regulator has opened an investigation into alleged manipulation of foreign exchange markets and is demanding documents from more than a dozen banks, a source familiar with the investigation told Al Jazeera.īarclays, Lloyds Banking Group, Goldman Sachs and a number of other large banks that the Department of Financial Services regulates will be investigated in the probe, the source said.Īuthorities in the U.S., Britain, Switzerland, Hong Kong and Singapore have opened probes into whether the large banks manipulated foreign exchange rates used to set the value of trillions of dollars of investments.
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