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5 Banks Fined $91M Over Forex-Rigging Claims

Law360, London (June 6, 2019, 10:40 AM BST) -- Five major banks including JP Morgan and Barclays have been fined almost 90 million Swiss francs ($91 million) for allegedly colluding to manipulate trading in foreign exchange markets, Switzerland's antitrust authority said Thursday, bringing the total penalties imposed on the lenders for competition violations to nearly $1.3 billion.

A Swiss regulator has handed fines of more than 90 million Swiss francs ($91 million) to JP Morgan and four other major banks for allegedly colluding to rig trading in foreign exchange markets. (AP) The Swiss decision was the second of two settlements after the European Union's competition regulator fined the same banks...

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