July 23 Britain's markets regulator and a group
of global banks are in talks to reach a first settlement in a
currency-rigging probe, with a deal possible this year,
Meanwhile, Britain's Serious Fraud Office told Reuters on
Wednesday that prosecutors could charge the first individuals in
connection with a global investigation into alleged manipulation
of currency markets as soon as next year.
Bloomberg reported the Financial Conduct Authority (FCA) was
in talks with banks, including Barclays Plc, Citigroup
Inc, JPMorgan Chase & Co and UBS AG
, citing sources who asked not to be identified.
The FCA declined to comment on the Bloomberg story.
Royal Bank of Scotland Group Plc and HSBC Holdings
Plc may also be part of the group settlement, according
to the sources.
Three of the sources told Bloomberg the FCA was trying to
fast-track the process and may levy fines in the coming months.
Two sources said the regulator was seeking to keep the scope
narrow to speed up a settlement.
The talks were continuing and an agreement may stretch into
next year, the sources told Bloomberg.
The FCA launched its probe last October, and the Bank of
England appointed barrister Anthony Grabiner in March to examine
whether any of its officials were involved in foreign exchange
(Reporting by Aashika Jain in Bangalore; Editing by Jeffrey