Reuters: US Dollar Report: UPDATE 1-Swiss say forex market manipulated, no details on banks concerned

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

How to Get into Medical School A tested blueprint to approach the daunting admissions process with both confidence and success! Enroll in this online course for just $29. From our sponsors

UPDATE 1-Swiss say forex market manipulated, no details on banks concerned Oct 9th 2013, 11:08 Wed Oct 9, 2013 7:08am EDT ZURICH Oct 9 (Reuters) - Switzerland said on Wednesday it was sure there had been manipulation of foreign exchange markets by some financial institutions without giving any further information on which banks might be affected. The country's financial markets regulator had already said last week it was conducting investigations into several Swiss institutions in connection with possible manipulation of foreign exchange markets. "It's a fact that foreign exchange manipulation was committed," Finance Minister Eveline Widmer-Schlumpf told a government news conference. "It is unclear to what extent and which institutions are affected. I think it's important that we wait until we have the results (of the investigation)," she said. The Swiss Financial Market Supervisory Authority FINMA said on Friday it was working with authorities in other countries and that multiple banks worldwide were potentially implicated. The Swiss competition commission WEKO has also opened its own preliminary investigation. Britain's Financial Conduct Authority (FCA) said in June it was examining allegations banks had manipulated foreign exchange benchmarks by trading ahead of their own customers' orders, a practice known in the markets as "front running". Regulators and investors have grown increasingly concerned about the integrity of financial benchmarks in the wake of a global investigation into the rigging of benchmark interest rates.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions