Martin Wheatley, chief executive officer of the UK Financial Conduct Authority (FCA), speaks during a news conference following an announcement by the FCA, the Commodity Futures Trading Commission and the Swiss Financial Market Supervisory Authority yesterday, about penalties given to five banks following a global foreign-exchange rigging probe. The FCA said its fines relate to “ineffective” controls at UBS, Citigroup, JPMorgan Chase, Royal Bank of Scotland Group, and HSBC,  that allowed the banks to put their “interests ahead of those of their clients, other market participants and the wider UK financial system.” (Photograph: Matthew Lloyd/Bloomberg)

In an early morning chat, three senior currency traders at some of the world’s biggest banks weighed the pros and cons of admitting a fourth member(...)

A pedestrian walks past a money exchange bureau with a board displaying the exchange rate of the US dollar

Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup on Wednesday in a landmark settleme(...)

Michael Lewis, author of a new book on high-speed trading, Flash Boys: A Wall Street Revolt. Photograph: Tabitha Soren/Handout/Reuters

The US Justice Department is investigating high-speed trading for possible insider trading, attorney general Eric Holder told lawmakers on Fri(...)

Average investors are being victimised by the fact that it’s legal for some people - high frequency traders -  to get advance news on prices and what investors are doing, Michael Lewis claims in his new book “Flash Boys”. Photograph: Jonathan Fickies/Bloomberg

The US stock market is a rigged game where high-frequency traders with advanced computers make tens of billions of dollars by jumping in front (...)

The SEC joins the CFTC and other US authorities including the Justice Department, Federal Reserve, Office of the Comptroller of the Currency and New York’s top banking regulator, in probing the matter. Photograph: Jonathan Ernst/Reuters

The US Securities and Exchange Commission is investigating whether currency traders at the world’s biggest banks distorted prices for options a(...)

 Barclays Plc company’s headquarters in the Canary Wharf, London. US authorities could demand unrestricted access to internal messages and trading books at Barclays in London, Deutsche Bank in Frankfurt and Société Générale in Paris.

US regulators are demanding the right to probe books, records and emails at the headquarters of Europe’s biggest financial groups, prompting deep EU u(...)

Troubled Irish betting-exchange Intrade is planning legal action to recover $3.5 million.

Troubled Irish-based betting exchange Intrade is planning legal action to recover $3.5 million following a month-long investigation into(...)