FCA Faces Calls for More Disclosure on Currency-Rigging
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The U.K.’s Investment Management Association, whose members oversee about 4.5 trillion pounds ($7.4 trillion) of assets, is pressing regulators to provide more information about the alleged manipulation of the foreign-exchange market, said two people with knowledge of the matter.
The trade group wrote to the Financial Conduct Authority in recent weeks, asking how it should respond to clients’ inquiries about whether currency markets are being rigged, said the people, who asked not to be identified because the correspondence is private. The FCA replied that it couldn’t comment on a current investigation, one of the people said.