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WEKO investigates Credit Suisse Group AG over potential collusion to manipulate foreign exchange rates - Reuters


Sunday, 30 Mar 2014 08:00pm EDT 

Credit Suisse Group AG:WEKO opened investigation into several Swiss, British and U.S. banks over potential collusion to manipulate foreign exchange rates - Reuters.WEKO is investigating UBS, Credit Suisse , Zuercher Kantonalbank (ZKB), Julius Baer, JP Morgan, Citigroup, Barclays and Royal Bank of Scotland.WEKO says there is evidence that these banks colluded to manipulate exchange rates in foreign currency trades.Credit Suisse comments it was not subject of preliminary investigation carried out by competition commission into various banks.Says WEKO's press release contained incorrect references to Credit Suisse AG and these allegations were inappropriate and harmful to its reputation.