Some of the major banks in the world have come under scrutiny during the last decade due to proven allegations of FX manipulation. Malpractices have led to banks making millions by cheating their customers through manipulating FX rates.
The European Commission have highlighted that 5 major banks have been hit with large fines after carrying out forex collusions. Further investigations continue in FX options, Sovereign Bonds and SSAs.
If you feel your first and second lines of defence are exposed, you may need contract support to carry out internal investigations. We have regulatory experts focusing on market abuse, fully vetted and available to start interim work this week. For a confidential discussion, please get in touch.