Royal Bank of Scotland, Barclays, Citigroup and JP Morgan Chase could face combined penalties worth almost $4bn from the US Department of Justice over their alleged role in the rigging of foreign exchange markets, Bloomberg reported.

US prosecutors said to eye $4bn fine against four banks over FX rigging charges

Financial News

Barclays

Citigroup

JP Morgan Chase

Royal Bank of Scotland

Morgan Stanley’s profit surges as dealmaking and equity trading fees jump

Wall Street execs caution on dealmaking rebound even as investment banking fuels profit rise

Citigroup’s M&A and debt bankers fuel 44% dealmaking fee jump

Former Goldman Sachs executive Amar Kuchinad joins crypto firm Copper as CEO 

https://images.fnlondon.com/im-88462949?size=1.5

Former Goldman Sachs MD Amar Kuchinad joins crypto firm Copper as CEO

Dmitry Tokarev has stepped back from his role as chief executive after seven years

Kirkland loses regulatory partner to Paul Weiss 

https://images.fnlondon.com/im-68429219?size=1.5

Kirkland has been raided by Paul Weiss since it kicked off its English law offering last summer

BNP Paribas dealmaker McNaught departs in UK advisory shake-up

https://images.fnlondon.com/im-93271833?size=1.5

The French bank has added a further two managing directors amid reshuffle in UK deals team

The regulator’s former enforcement director becomes a partner at Milbank after three years pushing fines higher at the SEC.

SEC’s Grewal Moves to Wall Street After Turning Tough as Its Overseer

Inflation in the U.K. fell below the Bank of England’s 2% target in September for the first time in more than three years, making an interest-rate cut next month more likely.

U.K. Inflation Falls to Below BOE Target, Setting Up Rate Cut

The regulator said it is concerned that the part of the market that allows people to pay for insurance in installments might not be providing fair value to more than 20 million customers.

U.K. Regulator Starts Review Into Motor and Home Insurance Market

Fate of Lina Khan’s Bid to Reshape Antitrust Comes Down to Election

Chinese stocks have gone from ice-cold to red-hot in a matter of weeks, but it might be driven by momentum rather than enough stimulus to solve China’s economic woes.

e79fQb3sUJEmuxF30Brj0nFt4Zar4Gjb8XY/vWXgexTaGQmCtfiPwkWD9IT2LmGPt18sfqDmvO4qabhKWC6M/T5u5nF3Za3+qROLpA3CT+gi2Wc53GE2UpI975g/vOxcKbMxtxREk9NQG/xV9SxgwiQb+FoIbV0j/er52hNgqvdTgsBRtgAK6S6JlZ3qL7mB+2Ug2vZpgFs05wlkTVboeIhZCZGNlLj7uqO+ouHpc5ao3WOESpHTnHBuNN7VTH5yXjcky8DlNDWExRe4UXsEGxQM4nVQayf488DGVGqhnMMl4NxleZm5n1/kwJrkmd0KWTMb6q93kTmc

SEC’s Grewal Moves to Wall Street After Turning Tough as Its Overseer

U.K. Inflation Falls to Below BOE Target, Setting Up Rate Cut

U.K. Regulator Starts Review Into Motor and Home Insurance Market

Don’t Chase China’s FOMO Rally