HANDS SLAPPED: 5 Banks Get Hit with Fines for Currency Manipulation

November 12, 2014

In a major crackdown, five major banks (UBS, RBS, HSBC, Citigroup and JPMorgan) have got hit with fines from various financial regulators. With regard to the UK’s Financial Conduct Authority (FCA), this is the largest set of charges ever levied by UK financial regulators.

In total, US$ 3.4 billion in fines were levied by the three regulators: FCA, CFTC and FINMA.

Fined Banks	FCA Fines – Million USD	CFTC Fines – Million USD	FINMA Fines – Million USD	Total – Millions USD
The Royal Bank of Scotland Plc	344	290		634
UBS AG	371	290	139	800
JPMorgan Chase Bank N.A.	352	310		662
HSBC Bank Plc	343	275		618
Citibank N.A.	358	310		668

What Happened?

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Contact the writer or creator of this article or page.
Questions or comments: support(at)swfinstitute(dot)org
Follow on Twitter at @swfinstitute and @sovereignfunds
Learn, Attend and Network: Institutional Investor Events and Summits
Go Back: HOME: Sovereign Wealth Fund Institute

CalSTRS Seeks to Manage More Assets Internally

LIA Presses on with SocGen Suit