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Wednesday, November 12, 2014

The Banking List of Shame

UK, US and Swiss authorities have fined five banks more than £2BN over failings that led to manipulation of the foreign exchange markets.

For good measure The Bank of England dismissed its chief currencies dealer following an investigation, for "breaching internal policies".

As per the Telegraph:

Total Fines

Financial Conduct Authority
Citibank: £225,575,000
HSBC: £216,363,000
JPMorgan: £222,166,000
RBS: £217,000,000
UBS: £233,814,000
Commodities and Futures Trading Commission
Citibank: $310m
JPMorgan: $310m
RBS: $290m
UBS: $290m
HSBC: $275m
Finma
UBS: 134m Swiss francs

Well done lads, you are a "credit" to the "profession"!

In case anyone is wondering why Barclays isn't mentioned, it is still being investigated.

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