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US Regulators Step Up Forex Settlement Talks
Authorities in the US are attempting to reach settlements within weeks with a host of global banks over their attempted manipulation of foreign exchange markets. Sky News has learnt that Barclays will next week more than double its existing financial provision for forex wrongdoing after it took a £500m charge during the course of last year. Barclays had agreed the parameters of a settlement with the UK Financial Conduct Authority (FCA) and the Commodity Futures Trading Commission (CFTC) in the US. However, it excluded itself from a broader settlement between those regulators and six banks in November in order to ... (full story)