Forex manipulations by Swiss Banks | Reuters

ZURICH | Fri Oct 4, 2013 6:31am EDT  

(Reuters) - Switzerland's financial markets regulator is investigating several Swiss banks in connection with the possible manipulation of foreign exchange rates, it said on Friday. Financial benchmarks have come under increased global scrutiny after the discovery that a key benchmark interest rate had been rigged. "FINMA is coordinating closely with authorities in other countries as multiple banks around the world are potentially implicated," the Swiss regulator said in a statement. It said it would give no further details on the investigations or the banks potentially involved. Britain's financial watchdog, the Financial Conduct Authority (FCA), said in June it was looking into a report that traders manipulated benchmark foreign exchange rates that are widely used by companies and funds. Britain's leading prosecutor, the Serious Fraud Office (SFO), said on Thursday it was poised to charge more individuals in connection with the Libor scandal. To read full article click: http://www.reuters.com/article/2013/10/04/us-swiss-probe-forex-idUSBRE9930B420131004