Posts Tagged ‘manipulation’

FX Manipulation Causes Reuters to Change Rules

by Christopher Lemieuxon June 30, 2014 6:58 pm GMT
It has been just over a year since global regulators, from the UK to Switzerland and the US, probe the barely regulated foreign exchange market over charges of manipulation and collusion. The presence of regulators is causing high profile financial institutions to change how they conduct their trading practices. Bloomberg News reported last June that traders at […]

UBS Hit Again as Former Trader Banned From Trading

by Christopher Lemieuxon May 1, 2014 9:24 pm GMT
The Swiss bank UBS is hit again as former trader John Hughes, formerly of the exchange-traded fund (ETFs) desk, was banned from working in the UK’s finance industry. He has be indited for aiding another former UBS trader who went rouge, Kweku Adoboli. Adoboli was charged and sentenced to seven years in 2012 for unauthorized […]

Forex Probes Take Toll on Traders, Ranks Thin Out Along with Liquidity

by Christopher Lemieuxon April 30, 2014 7:48 pm GMT
Forex traders have seen their ranks thin out as a global probe across the industry takes place in regards to market manipulation. Since October, over 30 traders, at various levels, have been fired, suspended or have taken leave across 11 financial institutions. The manipulation black-eye has also taken a toll on those in the industry […]

The FCA Dives into the London Gold Fixing’s Intricacies

by Christopher Lemieuxon April 25, 2014 3:59 am GMT
The Financial Conduct Authority (FCA) is diving deeper into the London gold fixing, which is a twice-daily conference of five international banks to determine the price for spot gold. The British regulator recently visited Societe Generale, one of the five members, in order to observe the London fixing. “the FCA is clearly trying to educate […]