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Regulators probe currency benchmarks and frontrunning by Bank of America
Exclusive: Global Regulators Eye Forex Benchmarks After Rigging Probe
By Douwe Miedema
Reuters
Friday, January 24, 2014
WASHINGTON -- A powerful global financial regulator will scrutinize benchmarks used in currency trading, it said on Friday, a first sign that the largely unregulated market may be kept on a tighter leash after allegations of manipulation.
The Financial Stability Board, which coordinates regulation for the Group of 20 leading economies, is already working on a reform of interest rate benchmarks after the Libor interbank rate-fixing scandal. ...
... For the full story:
http://www.reuters.com/article/2014/01/24/us-markets-forex-benchmarks-id...
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Exclusive: Bank of America's Trading Practices Have Been Probed, Filing Shows
By Karen Brettell and Aruna Viswanatha
Reuters
Saturday, January 25, 2014
The U.S. Department of Justice and the Commodity Futures Trading Commission have both held investigations into whether Bank of America engaged in improper trading by doing its own futures trades ahead of executing large orders for clients, according to a regulatory filing.
The June 2013 disclosure, which Reuters recently reviewed on a website run by the securities industry regulator FINRA, sheds light on the basis for a warning by the Federal Bureau of Investigation on January 8.
The warning, in the form of an intelligence bulletin to regulators and security officers at financial services firms, said that the FBI suspected swaps traders at an unnamed U.S. bank and an unnamed Canadian bank may have been involved in market manipulation and front running of orders from U.S. government-owned mortgage giants Fannie Mae (FNMA.OB) and Freddie Mac. ...
For the full story:
http://www.reuters.com/article/2014/01/25/us-bankofamerica-probe-idUSBRE...
Jim Sinclair plans seminars in Austin
Gold advocate and mining entrepreneur Jim Sinclair will hold his next market seminar from 2 to 6 p.m. Saturday, February 8, at the Austin, Texas, Airport Hilton. Advance registration is required. Details are posted at JSMineSet.com here:
http://www.jsmineset.com/2014/01/02/austin-texas-qa-session-confirmed/
Join GATA here:
Mines and Money Hong Kong
Hong Kong Convention and Exhibition Centre
Monday-Friday, March 24-28, 2014
Hong Kong Special Administrative Region, China
http://www.minesandmoney.com/hongkong/
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http://www.goldrush21.com/order.html
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Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
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