HSBC, Barclays and Natwest among banks fined £293m over forex scandal
HSBC, Barclays and Natwest are among lenders fined a total of £293million for their involvement in the ‘Sterling Lads’ foreign exchange scandal. The banks, along with Credit Suisse and UBS, were part of a ‘cartel’ which colluded to fix the prices of various foreign currencies, the European Commission found. Traders at the banks swapped information on a chatroom called Sterling Lads, which allowed them to decide when to buy or sell the currencies they held. HSBC, Barclays and Natwest were…