Charges Against Standard Chartered for FX Rigging Dropped (For Now)
Posted: Wed Mar 30, 2016 10:51 pm
Standard Chartered has been exempted from a class action lawsuit against 16 banks for rigging the rates on the foreign exchange market. According to the charges, the financial institutions have been systemically engaging in manipulative practices at the cost of their clients to unfairly realize gains.
A U.S. judge has dismissed the charges against the British bank and stated that the institution has not been involved in harming the interests of a number of investors that have been engaging in currency transactions on almost a daily basis to assess market risks and to determine the value of their market positions in ... (read more)