It appears that banks are taking responsibility (or want to be seen to be more responsible or accountable) after being hit with heavy fines, by taking severe measures against their senior officers involved in foreign exchange manipulation.
HSBC dismisses head of European forex trading HSBC has dismissed its head of foreign exchange trading for Europe, Middle East and Africa. Stuart Scott has been "let go", a source confirmed to the BBC on Wednesday. The move comes a month after the bank was fined $618m (£393.8m) by regulators in connection with traders' attempted manipulation of foreign exchange rates. At the time, HSBC said it "does not tolerate improper conduct and will take whatever action is appropriate".