The UK Competition and Markets Authority (CMA) has joined a raft of global regulators probing the global foreign exchange market following allegations of rigging, the Wall Street Journal had reported.
The competition watchdog recently shared information concerning its own investigation with the the UK’s Financial Conduct Authority (FCA), which is at the forefront of the global foreign-exchange probe, two people familiar with the matter told the publication.
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The CMA and the FCA both declined to comment on the report.
Regulators in the United States, Asia and Europe are looking into possible manipulation of foreign exchange benchmarks, used to price trillions of dollars worth of investments and deals and relied upon by companies, investors and central banks.
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