The Canary Wharf financial district is seen in east London November 12, 2014. REUTERS/Suzanne Plunkett
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Regulators fined five major banks $3.4 billion for failing to stop traders from trying to manipulate the foreign exchange market, the first settlement in a yearlong global investigation.One regulator gave banks a 30 percent discount for settling early.UBS was also ordered by Swiss regulator FINMA, which also said it had found serious misconduct in precious metals trading, to hand over 134 million Swiss francs after failing to investigate a 2010 whistleblower's report.The bank said it regretted not responding more quickly to the complaints.Its investigation of the banks continues.The FCA said its enforcement activities were focused on the five banks plus Barclays, signaling that Deutsche Bank would not face a fine from it.
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