Compliance
Gardiner: FX Cartel had ‘gentlemen’s agreement’
Matthew Gardiner, a co-operating witness for the government, says the group co-ordinated trades for profit
Barnard becomes CLS chief auditor
He joins the settlement firm after a long career in auditing
Singapore aims to become e-FX hub for Asia, says Loh
Speaking at FX Week Asia, MAS’s Jacqueline Loh says Singapore wants more price discovery to take place
Stater appoints new head of compliance
Simon Henry takes up the role at Stater Global Markets
Katz’s sentencing adjourned until January
Jason Katz is the first trader to admit to wrongdoing
NYDFS fines Deutsche Bank $205m for FX
Fines relate to practices between 2007 and 2013, when Deutsche was the world’s largest dealer by market share
DoJ asks for discovery stay in benchmark case until ‘Cartel’ case ends
US tries to balance need to protect ongoing criminal investigations and lawsuits with civil attorneys’ desire for additional testimonies
Bogucki hearing scheduled for May 23
Defence lawyers are set to argue that the charge is time-barred and not applicable to this case
RBC fights £13 million whistleblower claim
Ex-trader John Banerjee is suing RBC for unfair dismissal and aims to claim whistleblower status
Colt partners NPL on timestamping
Mifid II requires that reportable events are traceable to coordinated universal time
Former Wells Fargo FX trading head sues for wrongful termination
Simon Fowles claims he was fired days before he intended to alert regulators of a payment-incentive plan that fostered greed
NY attorney general launches inquiry into cryptocurrency exchanges
Thirteen major virtual-currency trading platforms must complete a questionnaire on their fees and operations by May 1
FX veterans launch Global Code consultancy
Nick Downes and Julian Gladwin form Axiom Global Advisors to independently assess firms’ preparedness for adherence
IPC appoints new chief executive
Robert Santella will succeed Neil Barua in mid-April
Metcalfe joins WFE
Richard Metcalfe previously worked for BNY Mellon as a Mifid II implementation consultant
US presses for tougher sentence for Mark Johnson
DoJ wants profits made by Frank Cahill’s trading activity to be factored into Johnson’s sentence
Shell is first corporate on FX Global Code public register
Shell signs up to the code of conduct, stating its practices align with the 55 principles
UK regulators zoom in on algo trading
FCA and PRA launch co-ordinated push to improve risk management and governance of algorithmic trading
BNP Paribas pleads guilty to FX price-fixing
French bank regrets the misconduct and will pay $90 million to resolve investigations into its currency trading practices
Mesirow commits to FX Global Code
Currency managers sign formal statement of commitment to the principles of good behaviour
BNY Mellon to build franchise partnerships using FXPB
The bank’s FX prime brokerage beta clients could go live within the next month
FCA approves New Change FX for benchmarks
NCFX becomes first benchmark administrator for live FX spot markets under EU regulation 2016/1011
HSBC to pay $101 million to settle with DoJ
UK bank enters into deferred prosecution agreement and agrees to pay criminal penalty over Cairn Energy and other FX conduct
FCA sees 'serious risk of harm' in CFD products
In a letter addressed to the chief executives of CFD providers and distributors, the UK watchdog highlighted several areas of concern