Bloomberg HSBC Holdings Plc has been fined $175 million by the Federal Reserve after a long-running probe found that foreign-exchange traders had been front-running client orders, sharing confidential customer details with dealers at other firms and attempting to rig currency benchmarks. The Fed order detailed multiple instances of improper behavior, including allegations that traders may have conspired with counterparts at ...

Bloomberg The recent flood of cash into Indian stock funds is just the beginning, as the nation’s growing savings chase equity returns amid decreasing appetite for gold, property and fixed income, according to Morgan Stanley. “We’ve just started, the party has just begun,” said Ridham Desai, managing director at Morgan Stanley India Co. Pvt. The nation’s total financial savings are ...

Bloomberg Ethereum and bitcoin dropped after South Korea banned domestic initial coin offerings (ICOs) and margin trading in cryptocurrencies. The Financial Services Commission in Seoul said all forms of ICOs are prohibited in the country, including projects that share profits, rights, dividends, and other ‘coin-style’ offerings, according to a statement. The commission also banned practice of loaning funds to trade ...