JPMorgan to pay $99.5 million to resolve currency rigging lawsuit via ForexLive

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Via Reuters:

  • JPMorgan has agreed to pay $99.5 million to settle its portion of an antitrust lawsuit
  • 12 major banks are accused of collusion to manipulate the WM/Reuters Closing Spot Rates, known as the Fix
  • JPMorgan did not admit wrongdoing, and the settlement requires court approval
  • The other bank defendants include Bank of America Corp, Barclays Plc, BNP Paribas SA, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc, HSBC Holdings Plc, Morgan Stanley, Royal Bank of Scotland Group Plc and UBS AG
  • Five of those banks have also settled with regulators

posted via ForexLive

Posted In: ForexGlobalEconomics
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