Aug 26 The UK Competition and Markets Authority
(CMA) has become the latest regulator to investigate the global
foreign exchange market following allegations of rigging, the
Wall Street Journal reported on Tuesday, citing two people
familiar with the matter.
The antitrust watchdog recently shared information relating
to its investigation with Britain's Financial Conduct Authority
(FCA), which is at the forefront of probes into the global
currency market, the Journal reported, citing sources. (on.wsj.com/1vM8FEY)
"The CMA does not comment on whether or not it is conducting
cartel investigations," a CMA spokeswoman wrote in an email,
while a spokesman for the FCA declined to comment on the report.
The $5.3 trillion-a-day foreign exchange market is the
world's largest and least regulated financial market and is
being investigated for collusion.
Regulators in the United States, Asia and Europe are looking
into possible manipulation of foreign exchange benchmarks, used
to price trillions of dollars worth of investments and deals and
relied upon by companies, investors and central banks.
(Reporting by Karen Rebelo in Bangalore; editing by Jane Baird)