# 4 foreign banks fined 693 mln won for price-fixing of FX derivatives | Yonhap News Agency

> South Korea's Fair Trade Commission fined four foreign banks a total of 693 million won for fixing prices of foreign exchange derivatives sold to five Korean companies. The banks, including Standard Chartered Korea, Deutsche Bank, JPMorgan and HSBC, colluded between 2010 and 2012. The commission said the conduct raised client costs and undermined competition.

- Date: 2019-01-20 · published 2019-01-20T12:00:00.000Z
- Category: policy · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/61319-4-foreign-banks-fined-693-mln-won-for-price-fixing-of-fx-derivatives-yonhap
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

This is a regulatory enforcement action in currency derivatives markets with no direct link to feed commodities or their prices. It has no meaningful effect on feed supply, demand or price.

## Sources

- en.yna.co.kr: https://en.yna.co.kr/view/AEN20190120001200320

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.