come on

Investment banks will pay fines for manipulation with gold

US Supervisory agencies for financial markets, recently announced the fine, which investment banks will have to pay, those are Deutsche Bank, UBS, HSBC, and eight other traders. During the investigation, was proven guilty in the manipulation of precious metals in the futures markets. According to the newspaper Japan Times, the total fine is 46.6 million.

Traders of investment banks in the period from 2008 to 2014 used a method called "spoofing", which can be used to illegally intervene in the futures markets. While spoofing a large application exhibited on the purchase, which at the last moment creates short-term demand for precious metals. This allows to influence the decision of other market participants who are forced to sell precious metals at inflated prices. According to the Supervisory authorities, three investment banks have been able for a specified period of time to accommodate hundreds or even thousands of bogus purchase requisitions.

The largest fine has to pay Deutsche Bank in the amount of $ 30 million. Swiss Bank UBS will pay $ 15 million, and HSBC will incur a fine in the amount of 1.6 million dollars.

Swissgolden: only systematic and active actions lead to success!