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 four continents have started looking into claims of rate-rigging, how the foreign-exchange market functions and firms’ roles in currency markets.
Countries Investigating or Reviewing Allegations
Click on a country to jump to its details below
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Total fines
As of Nov. 12, 2014
$9.9
billion
Agencies that have completed investigations are shaded in gray
United States
| 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 |
United Kingdom
| Financial Conduct Authority | Market manipulation, collusion | STORY |
| Bank of England | Staff communication with FX traders at banks | STORY |
| Serious Fraud Office | Criminal | STORY |
Germany
| Bafin | Rate manipulation | STORY |
Switzerland
| Financial Market Supervisory Authority | Market manipulation | STORY |
| Attorney General2 | Bank secrecy laws | STORY |
| Competition Commission | Antitrust | STORY |
European Union
| European Commission3 | Antitrust | STORY |
Hong Kong
| Hong Kong Monetary Authority4 | Firms' internal controls and compliance | STORY |
Japan
| Japan Financial Services Agency5 | Surveying how Japanese banks set FX rates | STORY |
Australia
| Australian Securities & Investments Commission | Manipulation of Australian currency market | STORY |
New Zealand
| Commerce Commission | Market manipulation, antitrust | |
Singapore
| Monetary Authority of Singapore | FX manipulation | STORY |
South Africa
| Competition Commission | Antitrust | STORY |
Source: Bloomberg
GRAPHIC: CHLOE WHITEAKER & JEREMY DIAMOND / BLOOMBERG VISUAL DATA EDITORIAL: BLOOMBERG NEWS