The decision by the SFO to drop its criminal investigation into alleged forex rigging, which also scrutinised the actions of the chatroom, could complicate matters. The UK's Serious Fraud Office is gathering information about possible rigging of the foreign-exchange market, the latest sign of the seriousness of the global probe into currencies trading. Share ideas, debate tactics, and swap war stories with forex traders from around the world. SFO investigates price rigging in foreign exchange market | Forex Factory Home The U.K.'s Serious Fraud Office is gathering information about possible rigging of the foreign-exchange market, the latest sign of the seriousness of the global probe into currencies trading. 21.12.2014 The SFO said in a statement: “We can confirm that a 48-year-old man appeared before Westminster Magistrates’ Court [on 23 December] in relation to the SFO’s ongoing Forex investigation.
16.05.2019 The SFO has already charged 13 individuals involved in a separate scam to rig Serious Fraud Office set to grill Forex traders accused of rigging the £3.5 trillion-a-day foreign exchange market.
The UK’s Serious Fraud Office dropped its criminal probe into forex-rigging in March, citing “insufficient evidence for a realistic prospect of conviction.” Those familiar with the agency’s thinking said that the HSBC transaction was not part of the SFO’s dossier. A long-running investigation by the Serious Fraud Office into rigging of the £3.5tn-a-day foreign exchange markets has ended without any charges being issued against banks or individuals. The SFO The Serious Fraud Office (SFO) has dropped a criminal investigation into allegations of price-rigging in the foreign exchange market. The SFO concluded that it found ‘insufficient evidence for a realistic prospect of conviction’. Traders allegedly have used Internet chatrooms to organize the fixing of benchmark prices. Serious Fraud Office to launch criminal probe into forex rigging The SFO is expected to announce a criminal inquiry into traders' alleged manipulation of the £3 trillion-a-day currency markets as A Serious Fraud Office forex trading probe has been announced in the UK. The criminal investigation into alleged price rigging in the $5.3 trillion per day London Foreign Exchange Market, the biggest in the world, is underway. Investigation into rigging forex markets will no longer continue, following lack of evidence to convict. By Hayley McDowell The Serious Fraud Office (SFO) has dropped its case into forex rigging, concluding there is insufficient evidence to convict. The Serious Fraud Office (SFO) has launched a criminal investigation into allegations of price rigging in the £3tn-a-day foreign exchange market. The probe will look into allegations of "fraudulent
Market regulators in Asia, Switzerland, the United Kingdom, and the United States began to investigate the $4.7 trillion per day foreign exchange market (forex) after Bloomberg News reported in June 2013 that currency dealers said they had been front-running client orders and rigging the foreign exchange benchmark WM/Reuters rates by colluding with counterparts and pushing through trades before and during the 60-second windows when the benchmark rates are set. Dec 19, 2014 · The SFO opened an investigation into foreign exchange manipulation in July, and last month six banks were fined £2.7bn related to currency rigging. No other details about the arrest were given May 17, 2019 · Brussels | The European Union has fined Barclays, Citigroup, JPMorgan, Royal Bank of Scotland and Mitsubishi UFJ (MUFG) a total of €1.07 billion ($1.7 billion) for rigging the multitrillion-dollar
The SFO's decision is perhaps surprising given that Martin Wheatley, previously head of the FCA, had said that the allegations regarding FX market rigging