July 20, 2014 / 6:21 PM / 4 years ago

UK's Serious Fraud Office may announce FX probe by end-July-FT.com

NEW YORK, July 20 (Reuters) - The Serious Fraud Office, the UK’s main anti-fraud agency, could announce a formal investigation into alleged manipulation of the global foreign exchange market by the end of this month, the FT.com reported on Sunday, citing people familiar with the situation.

The UK agency has been gathering input and information for the past few month on allegations of rigging in the currency market, which has a daily volume of $5.3 trillion, according to people cited by the FT.

Any announcement by the SFO follows frequent information-sharing meetings with the UK’s Financial Conduct Authority, the same sources said.

The SFO would not confirm or deny a formal probe would be announced. “We are receiving and examining complex data on this topic. If and when we open a criminal investigation, that decision will be announced in the usual way,” the FT quoted the SFO as saying. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Andrea Ricci)

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