US pension fund sues seven dealers over FX benchmark rigging
Seven of the largest banks in the foreign exchange industry are facing legal action from a US pension fund over the alleged manipulation of the WM/Reuters benchmark exchange rates, as the global regulatory probe into the allegations continues to gain momentum.
On November 1, at the end of a week in which multiple banks admitted they were being investigated and several placed senior FX traders on leave, Haverhill Retirement System, a Massachusetts pension fund, filed a class action against
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