00:02 January 9th 2017 in News, Banks
Judge Formalises FX Fines for Banks
A US District Court judge has ratified fines against five major banks following their guilty pleas last year over currency market manipulation charges.
US District Judge Stefan Underhill in Bridgeport Connecticut agreed fines for Citi of $925 billion, Barclays $650 million, JP Morgan $550 million, Royal Bank of Scotland $395 million and UBS $203 million after the banks pleaded guilty to FX market abuse in mid-2015. The fines were recommended by the US government and accepted by Judge Underhill last week.
