UK benchmark-rigging laws to extend to FX

FX fix manipulators could face jail

A man's hands sticking through prison bars

Attempts to manipulate the WM/Reuters currency benchmark will become a criminal offence, after the UK government announced plans to widen the scope of legislation.

The move comes as the investigation into the rigging of the FX market's WM/Reuters 4pm London fix reaches its 18-month anniversary. So far, the multi-regulator probe has involved several major banks and resulted in dozens of senior traders being dismissed or put on leave.

Up until now, only the London Interbank Offered Rate fell into

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