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Swiss authorities investigating alleged exchange rate manipulation

European regulators say many major banks could be implicated

European financial institutions have been facing allegations of manipulating the London interbank offered rate, or Libor, since 2008. Many financial institutions have been forced to settle these allegations, including brokerage firm ICAP in September 2013 and bank UBS in December 2012.

Many of these financial institutions now face a new allegation: manipulating worldwide exchange rates. And this time, the investigation will take place over a wider area, as Switzerland has joined the U.S. in investigating the allegations.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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