Deutsche Bank’s Jain Says FX Allegations Eroding Trust
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Deutsche Bank AG Co-Chief Executive Anshu Jain, whose company is the world’s biggest trader of currencies, said allegations that traders rigged those markets have further eroded trust in the financial industry.
The Federal Bureau of Investigation, which was already looking into alleged manipulation of the London interbank offered rate, or Libor, is in the early stages of a probe into the $5.3 trillion-a-day currency market, a person familiar with the matter, who asked not to be identified because the inquiry is confidential, told Bloomberg News on Oct. 11.