HANDS SLAPPED: 5 Banks Get Hit with Fines for Currency Manipulation

In a major crackdown, five major banks (UBS, RBS, HSBC, Citigroup and JPMorgan) have got hit with fines from various financial regulators. With regard to the UK’s Financial Conduct Authority (FCA), this is the largest set of charges ever levied by UK financial regulators.

In total, US$ 3.4 billion in fines were levied by the three regulators: FCA, CFTC and FINMA.

Fined Banks FCA Fines – Million USD CFTC Fines – Million USD FINMA Fines – Million USD Total – Millions USD
The Royal Bank of Scotland Plc 344 290   634
UBS AG 371 290 139 800
JPMorgan Chase Bank N.A. 352 310   662
HSBC Bank Plc 343 275   618
Citibank N.A. 358 310   668

 

What Happened?

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