Whistleblower
Advocates
Award Winning Attorneys
Respondent was charged with misrepresenting that it would obtain best execution in its foreign currency exchanges for clients, while actually pricing these transactions late, at or near the worst interbank rates for the day or trading session, and profiting from the difference between the rates assigned to clients and the rates that it obtained on its own behalf. The settlement of this proceeding was part of a global settlement with the U.S. Department of Justice and the New York Attorney General.