Skip to content
Subscriber Only

Swiss Regulators Probing Alleged Currency Manipulation

Updated on

Swiss regulators said they’re investigating several banks for allegedly colluding to manipulate the $5.3 trillion-a-day foreign exchange market.

The Swiss Financial Market Supervisory Authority “is coordinating closely with authorities in other countries as multiple banks around the world are potentially implicated,” it said yesterday in a statement. Separately, the competition commission said it opened a preliminary probe on Sept. 30 after receiving allegations of collusion among banks to manipulate some foreign-exchange rates.