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Five major global investment banks have been hit with a class action suit for alleged cartel behaviour in the foreign exchange market. The legal action targeting UBS, Barclays, forex 7news, Citibank, JPMorgan and Royal Bank of Scotland subsidiary NatWest alleges traders used chat rooms bearing names such as 'The Cartel', 'The Bandits' Club', and 'The Mafia' to coordinate the manipulation of the market between January and October Legal firm Maurice Blackburn launched the forex 7news action in the Federal Court of Australia on Monday on behalf of bank customers.
Principal lawyer Kimi Nishimura said businesses and investors - particularly medium to large importers, forex 7news, exporters, institutional investors and businesses forex 7news operations overseas - had been affected by the alleged rigging of the FX market.
The banks have already admitted to regulators in the UK, Europe and the US that their staff attempted to manipulate the rates as part of a cartel, forex 7news.
Maurice Blackburn said the case will be represented by lead plaintiff J. Wisbey and Associates, who imported dental and medical equipment. Five banks were fined earlier this month by European Union regulators for colluding to fix rates on the euro, pound sterling, yen, Swiss franc, and the US, Canadian, New Zealand and Australian dollars, as well as Danish, Swedish and Norwegian kroner.
News Chevron Right Icon Crime. Class action launched over forex cartel. Published: Monday, 27 Forex 7news pm AEST. A handful of major investment banks have been accused of alleged cartel behaviour. Credit: AAP.
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This story originally aired on August 25, The million-dollar kids - the youngsters with big dreams and even bigger success stories. Starting with nothin An Australian family who attempted to order 48 rolls of toilet paper online instead ended up with 48 boxes -- $2, worth of bathroom tissue. "And when it asked for quantity, I put 48, thinking that would be a box of 48 rolls," Janetzki told 7News. "Turned out it was 48 boxes. The courier man 4. · Breaking News, Latest News and Current News from blogger.com Breaking news and video. Latest Current News: U.S., World, Entertainment, Health, Business, Technology
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