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SFO investigates price rigging in foreign exchange market | |
(35 minutes later) | |
The Serious Fraud Office (SFO) has launched a criminal investigation into allegations of price rigging in the £3tn-a-day foreign exchange market. | |
The probe will look into allegations of "fraudulent conduct", the director of the SFO said in a statement. | |
Around 15 authorities internationally are investigating allegations of collusion and price manipulation. | |
It is alleged that traders used online chatrooms to plan the fixing of benchmark prices. | |
The Financial Conduct Authority (FCA) said in October it had joined other regulators around the world in scrutinising firms over the potential manipulation of the foreign exchange market. |