The sprawling probe into alleged manipulation of foreign exchange markets intensified yesterday when two European regulators stepped up their efforts to root out the rigging of financial benchmarks.
Switzerland’s competition watchdog became the first regulator to publicly confirm that it had uncovered signs of illegal activity as it announced an investigation into possible forex manipulation by eight banks.
Meanwhile, the UK’s financial regulator said it was examining the controls that investment banks have in place to prevent traders from rigging benchmarks.
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