New York bank regulator Lawsky opens currency trading probe: source

NEW YORK Wed Feb 5, 2014 11:07am EST

State financial regulator Benjamin Lawsky listens to testimony at a hearing in New York January 29, 2014. REUTERS/Eric Thayer

State financial regulator Benjamin Lawsky listens to testimony at a hearing in New York January 29, 2014.

Credit: Reuters/Eric Thayer

NEW YORK (Reuters) - Benjamin Lawsky, New York's financial services superintendent, has opened an investigation into manipulation of the currency markets by large banks and is requesting documents from more than a dozen institutions, according to a source familiar with the matter.

The source said Lawsky has asked for documents from Barclays BARCR.UL, Credit Suisse (MLPN.P), Deutsche Bank DBKGN.DE, Goldman Sachs (GS.N), Lloyds Banking Group Plc (LLOY.L), RBS (RBS.L), Societe Generale (SOGN.PA) and Standard Chartered.

The investigation adds another name to the list of regulators and law enforcement offices around the world looking at whether traders at the largest banks unduly influenced currency fixes, front-run large customer orders and engaged in other manipulative practices.

(Reporting by Emily Flitter, Editing by Tom Brown)

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