- Banks’ defenses in UK mass claims may need to address alleged ‘tacit’ forex collusion
- ‘Tacit’ activity
- EU findings
- Wider forex characteristics
MLex: Barclays, JPMorgan Chase and other banks targeted by UK mass damages lawsuits over cartel behavior in foreign-exchange trading could see their defenses tested by allegations of ‘tacit’ collusion. After banks cracked down on explicit collusion in the wake of market manipulation findings from financial and antitrust regulators, subtler forms of potentially illegal cooperation have taken on a new importance.
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