Barclays Forks Over Another $50M For FX Damages in Rigging Settlement

[kreslik.news]

As the worldwide banking industry looks to turn the page on its currency rigging scandals, the fines still have not abated, culminating in the latest $50 million settlement by Barclays Plc to settle a US lawsuit, according to a recent Reuters report.

The fine is the first foreign exchange (FX) related settlement paid in the New Year by Barclays, following a $150 million fine for manipulating forex markets via its electronic trading platform back in November 2015. The civil penalty, imposed by the New York Department of Financial Services, was related to failures regarding certain internal systems ... (read more)