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Banks fined more than £2bn over Forex rigging scandal

Regulators in the UK and US have fined banks more than £2 billion over the foreign exchange (Forex) rigging scandal.

The Financial Conduct Authority said it was imposing the fines for "failing to control business practices in their G10 spot foreign exchange".

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Barclays not named as part of regulator settlement

Barclays was not one of the five banks named in the FCA settlement. Credit: Jonathan Brady/PA Wire

Five banks have been issued fines by the Financial Conduct Authority over the foreign exchange (Forex) rigging scandal for "failing to control business practices".

The penalties are as follows:

  • HSBC - £216,363,000
  • Citibank - £225,575,000
  • JPMorgan Chase Bank £222,166,000
  • Royal Bank of Scotland £217,000,000
  • UBS - £233,814,000

Barclays has not been named as one of the banks taking part in the FCA settlement.

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