A spokesman for UBS in London declined to
Authorities in the United States, UK, Switzerland, Germany and
Singapore are looking into allegations of collusion and
manipulation of the $5.3 trillion a day global forex market.
Britain's market regulator began looking into such allegations
at least as far back as early 2013 and formally announced it was
investigating in October, the same month the U.S. Justice
Department opened its own probe.
Sources familiar with the matter told Reuters last month that
UBS had approached U.S. authorities in September with
information relating to their probe into alleged rigging of
currency markets in the hope of gaining antitrust immunity if
charged with wrongdoing.
Since the probes began, more than 20 traders at some of the
world's biggest banks have so far been placed on leave,
suspended or fired. Regulators in the UK have said the forex
investigation could be bigger than the Libor rate-rigging
scandal, which has triggered criminal prosecutions as well as $6
billion in fines and settlements.
(Reporting by Emily Flitter; additional reporting by Jamie McGeever in London, editing by G Crosse)
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