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US authorities charge 3 banks, 8 individuals in futures 'spoofing' probe
Deutsche Bank will pay US$30m, UBS US$15m to settle the civil charges in the case, while HSBC will pay US$1.6m
Published Tue, Jan 30, 2018 · 09:50 PM
Washington
THE US Justice Department and the country's derivatives regulator said on Monday they had filed civil and criminal charges against three European banks, which paid US$46.6 million to settle the cases, and eight individuals for alleged manipulation in US futures and commodities market.
UBS, Deutsche Bank and HSBC, and former traders at the banks as well as individuals at other firms, were charged following a large-scale multi-agency probe including the Commodity Futures Trading Commission (CFTC) into so-called "spoofing" in metals and equities futures.
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