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U.K. hastens negotiations for currency-rigging settlement

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Published : July 23rd, 2014
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Category : GoldWire

By Lindsay Fortado, Suzi Ring, and Gavin Finch
Bloomberg News
Wednesday, July 23, 2014

http://www.bloomberg.com/news/2014-07-23/u-k-...r-fx-rigging...

LONDON -- Talks to reach the first settlement in the currency-rigging probe are accelerating, with Britain's markets regulator preparing to reach a deal with a group of banks this year, people with knowledge of the talks said.

The Financial Conduct Authority is in talks with banks including Barclays Plc, Citigroup Inc., JPMorgan Chase & Co., and UBS AG, said the people, who asked not to be identified because the discussions are private. Royal Bank of Scotland Group Plc and HSBC Holdings Plc may also be part of the group settlement, one of the people said.

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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