US regulator fines take FX settlements to $11 billion
BAML, Barclays, Citi, JP Morgan, RBS and UBS fined
The US Department of Justice (DoJ) and the Federal Reserve announced joint fines totalling more than $4.3 billion against six banks today (May 20), for collusion and the manipulation of foreign exchange markets since December 2007, taking the total settlements paid out by banks since the investigations began to $11.2 billion.
Bank of America Merrill Lynch (BAML), Barclays, Citi, JP Morgan, Royal Bank of Scotland (RBS) and UBS have been fined following a 19-month investigation involving the DoJ's
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