Author: Azizur Rahman 5 November 2015
Reports have indicated that Barclays agreed to pay £250M, HSBC £185M and RBS £165M. French bank BNP Paribas and Goldman Sachs have agreed to pay £161M between them.
The payments follow a ruling in May that saw many major banks admit rigging foreign exchange markets to US and UK regulators.
The law firm that brought the action against the banks in the US has indicated it may now repeat the process in Europe. Further lengthy legal discussions are now likely over here.
Aziz Rahman is Senior Partner at Rahman Ravelli and its founder. His ability to coordinate national, international and multi-agency defences has led to success in some of the most significant corporate crime cases of this century and top rankings in international legal guides. He is recognised worldwide as one of the most capable legal experts regarding top-level, high-value commercial and financial disputes.