The U.S. Commodity Futures Trading Commission will announce millions of dollars of fines for European banks Deutsche Bank AG, HSBC Holdings PLC and UBS Group AG for manipulating the U.S. futures market, Reuters reported late Friday. Citing anonymous sources, Reuters said that the CFTC investigation involves the Justice Department and the Federal Bureau of Investigation and looked into the banks “spoofing” and manipulation of the U.S. futures market. The fines for UBS and Deutsche Bank will exceed $10 million and HSBC will be “slightly” less, according to Reuters.
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