LONDON: British regulators could fine a group of six bank for systems and controls failings in their foreign exchange operations as early as next Wednesday, people familiar with the matter said.
Three sources said the Financial Conduct Authority (FCA) was working to release the coordinated settlement with the banks on Wednesday, although they said that timetable could slip if problems emerge with details.
The six banks are Switzerland's UBS, US banks JPMorgan and Citigroup and Britain's HSBC , Barclays and Royal Bank of Scotland, sources said. They are expected to be fined a total of about 1.5 billion pounds.
It would be the first settlement in the year-long global probe into allegations that traders at major banks shared client order information.
The FCA said there was no date confirmed for any settlement.
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