Five banks, Citibank, HSBC, JPMorgan, RBS and UBS have been ordered by the supervisory authorities in the US, Britain and Switzerland to pay 3.3 billion dollars in penalties for manipulating currencies. They have been penalised for their manipulation of the currency market.The US Commodity Futures Trading Commission (CFTC) has issued sanctions against Citibank, HSBC, JPMorgan, Royal Bank of Scotland and UBS.
The British Financial Conduct Authority (FCA) fined the same banks 114 million pounds ($181 million) for lack of control in the operations of the forex market.
