Barclays faces further scrutiny as US widens foreign exchange market investigation

Barclays is facing further regulatory scrutiny in the US, after the Department of Justice (DoJ) widened its probe into the foreign exchange markets.

The DoJ is examining whether Barclays and Swiss bank UBS sold so-called structured products without disclosing the profit they were making from currency trades used to generate the products’ returns, the Financial Times reported citing sources.
Other banks are also being investigated over allegations of inadequate profit disclosure to clients, the FT added.

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