LATEST NEWS: Barclays 'may have automated currency rigging'

Barclays and Deutsche Bank may have programmed automated trading platforms to systematically rig the currency markets, a US regulator has alleged. New York’s Department of Financial Services (DFS), led by Benjamin Lawsky, has uncovered evidence suggesting the banks may have developed algorithms to manipulate foreign exchange markets, according to multiple reports. continue reading at telegraph.co.uk

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LATEST NEWS : Fed Scrutiny of Leveraged Loans Grows Along With Bubble Concern

The Federal Reserve is stepping up its oversight of high-risk leveraged loans, shifting to a deal-by-deal review after its previous industry-wide guidelines were largely ignored by banks. continue reading at bloomberg.com

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High-frequency trading critic Chilton joins HFT lobby effort

Former CFTC Commissioner Bart Chilton, who famously blasted high-frequency traders as “cheetahs” when he was a regulator, has gone to work with a leading high-frequency trading association, the group said Thursday. The switch is a dramatic example of a regulator becoming a paid consultant for an industry he once criticized—and it says as much about […]

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More trouble in store for UK banks

“HSBC has already been fined £1.2bn for breaching money-laundering rules and Royal Bank of Scotland and Barclays hit with major penalties for rigging Libor, but over the past two weeks Britain’s major banks have warned shareholders of the wide range of investigations they still face that could lead to even more fines. Some of the […]

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