SUBSCRIBERS
Barclays to pay US$50m to settle lawsuit over rigged forex system
Published Sun, Feb 21, 2016 · 09:50 PM
New York
BARCLAYS plc agreed to pay US$50 million to settle a US lawsuit claiming that it rigged its foreign exchange trading system to reject client orders that would be unprofitable for the British bank.
The preliminary, all-cash settlement with investors led by Axiom Investment Advisors LLC was disclosed in papers filed on Wednesday night in the US District Court in Manhattan, and requires a judge's approval.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
DBS CEO Piyush Gupta sells S$2.7 million worth of bank shares
Over S$646,000 spent to store, maintain, safeguard assets in money laundering case
Philippines eyes US$2 billion in its first global bond this year
UniCredit jumps past 60 billion euro market cap to join elite club
New Thai finance minister downplays row with central bank
China's CICC may cut investment banking headcount by at least 10% this year