The Scotsman cartoon: Banks fined £2 billion

Illustration: Iain Green
Illustration: Iain Green
Share this article
0
Have your say

FIVE of the largest banks in the world are to pay fines totalling £2 billion after regulatory authorities revealed the rigging of foreign exchange markets (forex).

These latest fines go on top of those already due after the Libor scandal.

RBS is one bank involved in the settlement. The others are Citibank, HSBC, JPMorgan Chase and UBS.

UK Chancellor George Osborne insisted the fines will be used for “wider public good”.

SEE ALSO

Banks fined £2bn by watchdogs over forex rigging

SCOTSMAN TABLET AND IPHONE APPS

• Download your free 30-day trial for our iPad, Android Android and Kindle apps

Keep up to date with all aspects of Scottish life with The Scotsman iPhone app, completely free to download and use

Live debate: Scottish Home Rule - what next >>