Barclays and Deutsche Bank Named in London Gold Fix Lawsuit

Five banks including Barclays, Deutsche Bank and HSBC have been accused in a US lawsuit of manipulating the London gold fix, an age-old pricing of gold twice daily. According to a Bloomberg report, Kevin Maher, a New York resident who said he bought and sold gold and gold futures and options alleges that the banks overseeing the gold benchmark – Societe Generale and Bank of Nova Scotia were also named – colluded to manipulate it. Maher is seeking to represent a class of all investors

Read more …

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s