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Banks Reach Settlement in Foreign-Exchange Probe

LONDON—Five banks concluded Wednesday to compensate a sum of about $3.3 billion to U.S., British and Swiss regulators to solve allegations that they attempted to manipulate a immeasurable foreign-exchange market.

The settlements solve long-running investigations by a U.K.’s Financial Conduct Authority, a U.S. Commodity Futures Trading Commission and Switzerland’s Finma. They prove that a banks, in some cases as recently as final year, were intent in activities designed to pierce one of a world’s largest and many interconnected…

Article source: http://online.wsj.com/articles/banks-reach-settlement-in-foreign-exchange-rigging-probe-1415772504

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