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Foreign Exchange: Leading drastic change at investment banks

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Since the 2007 financial crisis, and in spite of difficult economic and market conditions, investment banks have invested significantly in improving their control environment.

The market tremors from the Foreign Exchange (FX)-fixing scandal and subsequent probe – triggering a flurry of fines, litigation cases and prosecutions – have been a critical catalyst for such major changes. We have collaborated with many investment banks on this topic and, although significant and drastic changes have been achieved, there is still some way to go.

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