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Outstanding compensation claims against 16 international banks appear to be painful for institutions
The 16 world-renowned banks were the subject of an action for compensation on the grounds that foreign exchange transactions had been manipulated.
According to reports in the German business paper Handelsblatt, the lawsuit filed on 16 November against the sixteen international banks at the Manhattan District Court in New York exceeds the amount of compensation claimed.
Key Fund Managers such as BlackRock and Allianz, Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, Japan's MUFG Bank, Royal Bank of Canada, Royal Bank Scotland, Societe Generale is located at Standard Chartered and UBS.
The plaintiff investors accuse the banks of manipulating exchange rates by secretly sharing their trading orders and positions with foreign exchange transactions between 2003 and 2013 and violating US antitrust laws.
For the same reason, banks have had to pay billions of dollars in criminal justice and reconciliation fees because of the conciliation agreements they have reached as a result of investigations and prosecutions in recent years.
In addition, some authorities engaged in foreign currency purchases from banks were sentenced to imprisonment or exclusion from the profession.
As a result of this case, the bill will be a question of how the bill.
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Last update: 1:23 p.m.November 28, 2018
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