A £1bn class action lawsuit against Barclays, Citigroup, JPMorgan, Royal Bank of Scotland and UBS over rigged foreign exchange trades has taken a significant step forward. A judge has agreed a timetable according to which the banks will attend a series of hearings over the next 16 months.

Following the first court session on November 6 at the Competition Appeal Tribunal in London, the programme of hearings the banks are expected to attend has been confirmed: four in total, in February, June and October 2020, and a final session in January or February 2021.