NY regulator raises spectre of further forex penalties for banks

“… findings from the [NY] DFS probe may indicate more widespread market abuse than was disclosed on Wednesday, the people familiar with the investigation said. They pointed out that Wednesday’s settlement related to allegations of market manipulation by bank employees — but Mr Lawsky’s probe covers electronic trading, which accounts for the majority of forex transactions. The possibility of new fines means the total penalties arising from the scandal could exceed the $10bn already paid by the banks.”