U.K. FCA Said to Near FX-Rigging Settlement With Banks
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Talks to reach the first settlement in the currency-rigging probe are accelerating, with Britain’s markets regulator preparing to reach a deal with a group of banks this year, people with knowledge of the situation said.
The Financial Conduct Authority is in negotiations with banks including Barclays Plc, Citigroup Inc., JPMorgan Chase & Co. and UBS AG, said the people, who asked not to be identified because the discussions are private. Royal Bank of Scotland Group Plc and HSBC Holdings Plc may also be part of the group settlement, one of the people said.