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U.S. scrutiny of Barclays and UBS widens forex trading probe
Caroline and Gina Chon
Financial Times, London
Sunday, February 8, 2015
The U.S. Department of Justice is scrutinising currency-linked investments marketed by Barclays and UBS in an indication that the sprawling global probe into the foreign exchange market may become more troubling for banks.
The department is examining whether the two banks sold so-called structured products without disclosing the profit they were making from currency trades used to generate the products' returns, said people familiar with the investigation. These products were sold to sophisticated investors, including several Swiss hedge funds.
... For the remainder of the report:
http://www.ft.com/intl/cms/s/0/0bcb013c-ae2f-11e4-8188-00144feab7de.html
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