Posts Tagged ‘libor’

Osborne Aiming to Increase Foreign Exchange Oversight

by Christopher Lemieuxon June 2, 2014 7:32 pm GMT
The United Kingdom Chancellor of the Exchequer George Osborne is aiming to increase oversight in the highly unregulated foreign exchange market. Regulators have been actively engaged since Bloomberg News broke news that traders intentionally manipulated currency rates for personal and institutional gains via the one minute window, for major currencies, prior to WM/Reuters updating exchange rates. […]

Troubles for RBS Continue, Fined For Illegal Trading

by Christopher Lemieuxon April 22, 2014 9:39 pm GMT
Royal Bank of Scotland (RBS) has come under fire with the impending global probe on forex manipulation, and now troubles worsen as the firm has been fined £460,000 by Hong Kong regulators due to illegal trading. Regulators state that RBS failed to detail unauthorized trades by one of their traders. The Hong Kong regulators pointed to […]

BoE Still Faces FX Scrutiny; Can Carney Dissolve Hostility?

by Christopher Lemieuxon March 9, 2014 2:53 pm GMT
It has come to light that the Bank of England (BoE) knew to some degree about manipulation in the foreign-exchange markets by the largest financial institutions in the world. Two BoE officials, including the central bank’s chief FX dealer, have been alleged to condone these unsavory practices, including order front-running to reduce risk, by traders […]

Chinese Credit Markets Trigger Déjà vu

by Christopher Lemieuxon March 2, 2014 6:39 pm GMT
The Chinese credit markets are triggering déjà vu for some analysts as banks tighten lending between each other and investors choose to hold government debt. George Soros and Bill Gross, founder and CIO of Pacific Investment Management Co. (PIMCO), are foreseeing similar results in China now as seen in the United States prior to the 2008 […]