JPMorgan in FX Fraud Banking ‘Cartel’ Choked by EU with Staggering €1 Billion Fine

By CCN: European Union regulators fine five major banks including JPMorgan – the biggest bank in the US – for taking part in spot foreign exchange (FX) trading cartels. The regulators found price fixing for all major currency areas including the US, Europe, and Australasia. In total, 11 currencies were included in the scam, including the most traded pairs for the Dollar, Euro, Pound, and the Yen. We fine Barclays, RBS, Citigroup, JPMorgan and MUFG €1.07 billion for participating in foreign exchange spot trading cartel.The behaviour of these banks undermined the integrity of the sector at the expense of the

The post JPMorgan in FX Fraud Banking ‘Cartel’ Choked by EU with Staggering €1 Billion Fine appeared first on CCN

Source: https://www.ccn.com/jpmorgan-in-fx-fraud-banking-cartel-choked-by-eu-with-staggering-e1-billion-fine

Stay up to date

on all important crypto news!

The most important news, once a week. No spam.