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Currency-Rigging Scandal Puts $2B Up for Grabs

Settlement recovery firms seek clients for currency claims.

By Lananh Nguyen, Bloomberg | Updated on September 12, 2017

Currency investors risk leaving money on the table if they don’t submit claims on a $2.1 billion pot of settlement money paid by banks accused of rigging foreign-exchange rates.

That’s the message from Battea FX Group, which is competing in the business of advising clients on how to get their share of the payouts. Its seven former FX traders and executives are helping firms recover funds from class actions claiming that some of the world’s biggest banks conspired to manipulate the $5.1 trillion-a-day currency market. Fourteen banks have settled, including Bank of America Corp., Barclays, Citigroup Inc., HSBC Holdings and Royal Bank of Scotland Group.

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