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Six Banks Face Lawsuits over Last Look
Six banks are facing a class action lawsuit over alleged abusive practices involving the use of last look in their e-FX businesses. The six, BNP Paribas (which has already been fined by the New York Department of Financial Services for, amongst other things, it’s broad use of last look), Citi, Credit Suisse, Goldman Sachs, Morgan Stanley and Royal Bank of Scotland face a claim from former retail broker-dealer Alpari (US) in the hundreds of million of dollars according to documents filed in a New York court this week.

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