FX class action case to go ahead on opt-in basis
Firms will have to sign up to US-style class action against six banks accused of FX manipulation in UK
The UK’s Competition Appeal Tribunal has decided to allow a class action lawsuit to continue against six banks accused of manipulation of foreign exchange trades – though firms will have to sign up to be included as part of the class and will not be added automatically.
Barclays, Citi, JP Morgan, NatWest Markets, Royal Bank of Scotland and UBS have been accused of manipulating spot FX trades between 2007 and 2013.
The three-person tribunal has been deliberating since mid-July on whether to
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