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Over $3B of fines slapped on banks in FX rigging probe

1:00 AM ET Wed, 12 Nov 2014

The U.K.'s Financial Conduct Authority has fined five banks a total of $1.7 billion for failing to control business practices in their G10 spot foreign exchange trading operations, while the U.S. CFTC has hit the banks with over $1.4 billion in fines for attempted FX manipulation.