HSBC does not have head of European forex trading

HSBC does not have head of foreign exchange trading for Europe, Middle East and Africa.
The bank was fined $618m (£393.8m) by regulators in connection with traders' attempted manipulation of foreign exchange rates a month ago.

HSBC told that "does not tolerate improper conduct and will take whatever action is appropriate"  at that time..

Almost 40% of the world's dealing is estimated to go through London.
Among six banks collectively fined by UK and US regulators following a 13-month investigation by regulators into claims that the foreign exchange market - in which banks and other financial firms buy and sell currencies between one another - was being rigged, HSBC was one of them.


There were even clear evidence that certain foreign exchange traders at the banks had co-ordinated their trading with one another to attempt to manipulate benchmark foreign exchange rates. Forex has huge market with $5.3 trillion worth of currencies.