Basic Search  |  Summaries  |  Advanced SearchPenalty: £222,166,000
Year: 2014
Date: 11 December, 2014
Offence Group: competition-related offences
Offence Type: foreign exchange market manipulation
Violation Description: Citibank N.A., HSBC Bank Plc, JPMorgan Chase Bank N.A., The Royal Bank of Scotland Plc and UBS AG were fined a total of £1.1 billion in settlements with the FCA of findings that they failed to have adequate systems and controls over their foreign exchange businesses, allowing traders to engage in market abuse that put the firms' interests ahead of their clients, with inappropriately shared information and manipulation of spot FX currency rates.
Action Type: agency action
Settlement Type: settlement of FCA Decision
Agency: Financial Conduct Authority
HQ Country of Parent: United States
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking & securities
Source of Data: (click here)