Posts Tagged ‘financial conduct authority’

Osborne Aiming to Increase Foreign Exchange Oversight

by Christopher Lemieuxon June 2, 2014 7:32 pm BST
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. […]

Rangold Resources Open to Gold Fixing Alternative; GOLD Turning Bearish

by Christopher Lemieuxon May 26, 2014 9:20 am BST
Rangold Resources Ltd. (GOLD) has used the now-infamous London gold fixing for nearly two decades and is open to gold pricing alternatives as a benchmark for the gold markets. Mark Bristow, Rangold’s chief executive officer, said “the nice thing about the gold fixing is that it takes into account the market. It’s a logical process.” […]

The London Gold Fixing Fixed: Barclays Fined £26M for Gold Manipulation After LIBOR Scandal

by Christopher Lemieuxon May 23, 2014 12:11 pm BST
The London gold fixing is a pricing ritual that dates back over a century, but regulators are probing the practice to gain further understanding on how the fixing is conducted and whether manipulation was present. The Financial Conduct Authority (FCA) has been visiting each participating member bank in order to evaluate practices. Barclays, one of […]

Silver Fixing Administrator to Stop Benchmark

by Christopher Lemieuxon May 14, 2014 9:45 pm BST
The London Silver Market Fixing Ltd. (LSMF) will stop administering the silver fixing that dates back over a century, after Deutsche Bank said it will stop contributing to the benchmark (the firm has also looked to sell its gold fixing membership after probes into the London gold fixing). Prior to Deutsche Bank’s decision to drop […]