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Hong Kong, New Zealand investigate banks over FX manipulation
By Rachel Armstrong
Reuters
Tuesday, April 1, 2014
Regulators in Hong Kong and New Zealand said on Tuesday that they are investigating banks' conduct in the foreign exchange market as part of an investigation tied to the global probe into FX markets.
The move shows that the regulatory crackdown on the $5.3 trillion-a-day-market is escalating and continues to broaden from Europe to other parts of the world.
The Hong Kong Monetary Authority said in a statement after an inquiry from Reuters that it is requiring several banks to conduct independent reviews of their FX divisions and to then send the HKMA the results. ... A spokesman for New Zealand's Commerce Commission said it had also started looking into the matter. ...
... For the full story:
http://www.reuters.com/article/2014/04/01/us-hongkongforex-idUSBREA300AW...
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