By: Audrey Zhang In November, 2014, five major banking groups wrapped up joint settlement talks with U.S., British, and Swiss regulators over the forex manipulation scandal. The banks—UBS, JPMorgan, Citigroup, RBS, and HSBC, were charged with manipulating foreign exchange rates.[1] The foreign exchange market (Forex) is a global market that sees…
Read More By: Calvin Benedict The London Interbank Offered Rate (LIBOR) scandal burst into the media spotlight on June 27, 2012, exposing fraudulent actions by Barclays in relation to LIBOR rates. LIBOR is the primary benchmark for short term interest rates globally and is used as a basis for settlement of interest…
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