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Standard Chartered is among five banks paying $111m over foreign-exchange rigging

The Times 31.07.17 Standard Chartered is among five banks that have collectively agreed to pay more than $100 million to settle American legal claims relating to rigging prices in the $5 trillion-a-day foreign exchange market. The $111.2 million settlement with victims includes $17.2 million from Standard Chartered, the London-listed bank that focuses on Asia, and [...]

2017-07-31T09:26:45+00:00 July 31st, 2017|Press|0 Comments

Banks settle currency manipulation claims for $111m

The Daily Telegraph 30 July 2017 Five more banks have agreed to pay a total of $111m to settle claims that they manipulated currency markets, as the foreign exchange scandal continues to haunt the finance industry. Lawyers behind the claims in the US hope to bring similar cases to the courts on this side of [...]

2017-07-31T09:30:10+00:00 July 30th, 2017|Press|0 Comments

VISA, MASTERCARD HIT WITH MORE UK SWIPE FEE ANTITRUST CLAIMS

Law360, New York (June 14, 2017, 6:50 PM EDT) -- Visa and Mastercard have been hit with another round of competition claims in the U.K. from a group of London restaurateurs and private clubs, the Bourne Leisure travel group, and discount retailer Poundland, amid a bevy of claims over the credit card giants' interchange fees. Claims [...]

2017-06-19T05:41:58+00:00 June 14th, 2017|Press|0 Comments

EX-BARCLAYS CURRENCY TRADER COPS TO FOREX CONSPIRACY

Law360, New York (January 4, 2017, 8:31 PM EST) -- A former currency trader for Barclays PLC on Wednesday became the first person to plead guilty in the long-running global investigation of price-fixing on the foreign currency exchange market, according to the U.S. Department of Justice. Jason Katz, formerly of BNP Paribas PLC, appeared in [...]

2017-06-17T17:55:51+00:00 January 4th, 2017|Press|0 Comments

INVESTORS PROPOSE DISTRIBUTION PLAN IN $2B FOREX SETTLEMENT

Law360, New York (September 1, 2016, 11:20 AM ET) -- Plaintiffs in a $2 billion foreign exchange manipulation settlement with nine banks, including JPMorgan Chase & Co. and Citigroup Inc., on Wednesday filed their proposal for distributing that money to aggrieved investors. Attorneys representing the plaintiffs filed a plan in federal district court in Manhattan [...]

2017-06-17T17:56:58+00:00 September 1st, 2016|Press|0 Comments

SEVEN BANKS TO PAY $324 MILLION TO RESOLVE ISDAFIX CLAIMS

Bloomberg Seven banks including Bank of America Corp., Barclays Bank Plc and Citigroup Inc. agreed to pay $324 million to settle claims they conspired to rig the ISDAfix benchmark, which is used in the sale of interest-rate derivatives and other financial instruments. The settlements follow a ruling by U.S. District Judge Jesse Furman in Manhattan [...]

2017-06-17T18:02:46+00:00 May 3rd, 2016|Press|0 Comments