The European Commission fined four banks a total of €344 million (U.S. $389 million) for their participation in a trader-driven scheme to manipulate the foreign exchange spot market.

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Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...