UK’s Serious Fraud Office may announce FX probe by end-July – FT.com

The Serious Fraud Office, the UK’s main anti-fraud agency, could announce a formal investigation into alleged manipulation of the global foreign exchange market by the end of this month, the FT.com reported on Sunday, citing people familiar with the situation.

The UK agency has been gathering input and information for the past few month on allegations of rigging in the currency market, which has a daily volume of $5.3 trillion, according to people cited by the FT.

Any announcement by the SFO follows frequent information-sharing meetings with the UK’s Financial Conduct Authority, the same sources said.

Read on.

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