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.
Updated July 9, 2014
As of Nov. 12, 2014
|Department of Justice||Criminal, antitrust||STORY|
|Commodity Futures Trading Commission||FX manipulation||STORY|
|Securities and Exchange Commission||Options and exchange-traded funds||STORY|
|Federal Reserve||Firms' internal controls and compliance||STORY|
|N.Y. Dept. of Financial Services||Manipulation by banks with New York state charters||STORY|
|Office of the Comptroller of the Currency||Firms' internal controls and compliance||STORY|
|Financial Conduct Authority||Market manipulation, collusion||STORY|
|Bank of England||Staff communication with FX traders at banks||STORY|
|Serious Fraud Office||Criminal||STORY|
|Financial Market Supervisory Authority||Market manipulation||STORY|
|Attorney General2||Bank secrecy laws||STORY|
|Hong Kong Monetary Authority4||Firms' internal controls and compliance||STORY|
|Japan Financial Services Agency5||Surveying how Japanese banks set FX rates||STORY|
|Australian Securities & Investments Commission||Manipulation of Australian currency market||STORY|
|Commerce Commission||Market manipulation, antitrust|
|Monetary Authority of Singapore||FX manipulation||STORY|
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.
GRAPHIC: CHLOE WHITEAKER & JEREMY DIAMOND / BLOOMBERG VISUAL DATA EDITORIAL: BLOOMBERG NEWS