Read time: 7 min

Judge Ticks Latest FX Benchmark Settlement Claim

Judge Lorna Schofield of the Southern District Court of New
York has approved the proposed settlement that sees five banks pay $111 million
for alleged FX benchmark manipulation.

The settlement, which
was first proposed in July
, involves Bank of Tokyo-Mitsubishi UFG, BNP
Paribas, Morgan Stanley, Royal Bank of Canada and Standard Chartered Bank – all
five banks continue to deny wrongdoing.

The approval of the latest settlement means banks have now
paid in excess of $2.1 billion to settle claims related to the benchmark
litigation.

Colin Lambert

Share This

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit

Related Posts in