22nd May 2015 12:17
LONDON (Alliance News) - New York's banking regulator is stepping up its investigation into automated currency trading, the Financial Times reported on Friday, raising the possibility that more fines could be imposed on banks over the foreign exchange manipulation scandal.
Citing people familiar with the investigation, the FT said the New York Department of Financial Services' probe could reveal market abuse that goes beyond what was disclosed when US and UK regulators fined banks USD5.7 billion earlier this week.
The report said the investigation into Barclays PLC is the "most advanced".
The USD5.7 billion fine earlier this week, of which USD2.4 billion was due to Barclays, followed more than USD4 billion of fines imposed on banks in November 2014.
http://www.ft.com/cms/s/0/092572d2-0005-11e5-abd5-00144feabdc0.html#axzz3aro3SfkH
By Samuel Agini; [email protected]; @samuelagini
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