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U.S. may revoke settlement agreements in currency-rigging probes
By David McLaughlin and Tom Schoenberg
Tuesday, March 17, 2015
WASHINGTON -- U.S. prosecutors investigating currency manipulation are considering revoking years-old settlements and prosecuting banks for rigging interest rates, according to people familiar with the matter.
The Justice Department is weighing whether evidence of wrongdoing in currency trading means banks violated old deals resolving probes into the rigging of benchmark interest rates, said two people, who asked not to be identified because final decisions haven't been made.
Barclays Plc, Royal Bank of Scotland Group Plc, and UBS Group AG, which are operating under such agreements, are among banks being investigated in the currency case, as is HSBC Holdings Plc. The Justice Department is also scrutinizing whether HSBC's currency-trading practices violated a 2012 agreement settling a money-laundering probe, another person familiar with the matter said. ...
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