Forex Investigation a Global Affair

The U.K.’s Financial Conduct Authority was the first agency to say it’s looking into allegations that dealers shared information on client orders with counterparts at other banks and timed trades to influence prices. Since then, authorities on three continents have started looking into claims of rate-rigging, how the foreign-exchange market functions and firms’ roles in currency markets. No one has been accused of wrongdoing, and none of the reviews has been completed.

Updated July 9, 2014

Countries Investigating or Reviewing Allegations
Click on a country to jump to its details below
Hong Kong
Singapore
Bloomberg's Visual Data products are designed to run in the latest web browsers. For additional features we recommend using the current release versions of Chrome, Safari, Firefox or Internet Explorer 9+.
Number of probes1
United States
AgencyInvestigationRelated Story
Department of JusticeCriminal, antitrustSTORY
Commodity Futures Trading CommissionFX manipulationSTORY
Securities and Exchange CommissionOptions and exchange-traded fundsSTORY
Federal ReserveFirms' internal controls and complianceSTORY
N.Y. Dept. of Financial ServicesManipulation by banks with New York state chartersSTORY
Office of the Comptroller of the CurrencyFirms' internal controls and complianceSTORY
United Kingdom
Financial Conduct AuthorityMarket manipulation, collusionSTORY
Bank of EnglandStaff communication with FX traders at banksSTORY
Serious Fraud OfficeCriminalSTORY
Germany
BafinRate manipulation
Switzerland
Financial Market Supervisory AuthorityMarket manipulationSTORY
Attorney General2Bank secrecy lawsSTORY
Competition CommissionAntitrustSTORY
European Union
European Commission3AntitrustSTORY
Hong Kong
Hong Kong Monetary Authority4Firms' internal controls and compliance
Japan
Japan Financial Services Agency5Surveying how Japanese banks set FX ratesSTORY
Australia
Australian Securities & Investments CommissionManipulation of Australian currency marketSTORY
New Zealand
Commerce CommissionMarket manipulation, antitrust
Singapore
Monetary Authority of SingaporeFX manipulationSTORY

1 – Probes differ in their scope and how advanced they are.

2 – Aiding Swiss regulators' investigations pending its own.

3 – Covers the European Economic Area (the EU plus Iceland, Liechtenstein and Norway).

4 – Aiding overseas regulators in their investigations and has asked banks to conduct internal reviews.

5 – Asked banks to conduct internal reviews.

Source: Bloomberg

GRAPHIC: CHLOE WHITEAKER & JEREMY DIAMOND / BLOOMBERG VISUAL DATA EDITORIAL: BLOOMBERG NEWS