New York regulator demands documents from banks in foreign exchange probe

New York banking regulator Benjamin Lawsky is seeking documents from some of the biggest banks in foreign exchange trading, including Deutsche Bank, Goldman Sachs and Barclays, according to reports, as a global probe into possible market manipulation widens.

At least seven other law enforcement offices and regulators internationally are investigating whether banks rigged the $5.3 trillion-a-day currency markets. Martin Wheatley, chief executive of Britain’s Financial Conduct Authority, said on Tuesday that his watchdog group’s probe could extend into 2015, and that the allegations it is looking into are “every bit as bad” as the Libor manipulation scandal.

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