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Swiss Authorities Investigate Potential Manipulation Of £3Tn Currency Markets

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Swiss authorities investigate potential manipulation of £3tn currency markets

Swiss regulators are investigating a number of financial firms over the potential manipulation of currency markets, where £3tn changes hands every day.

The regulator said that multiple banks around the world could be drawn into the investigation, which will raise fresh questions about the integrity of the markets.

The Swiss Financial Market Supervisory Authority said in a brief statement: "Finma is currently conducting investigations into several Swiss financial institutions in connection with possible manipulation of foreign exchange markets. Finma is co-ordinating closely with authorities in other countries as multiple banks around the world are potentially implicated."

The regulator said it would give no further details on the investigations or the banks potentially involved.

However I bet the biggest currency manipulators like the SNB, Fed, BoE, ECB will be exempt from investigation.

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