Swiss probe banks over foreign exchange rates

AP News
Posted: Oct 04, 2013 6:48 AM

GENEVA (AP) — Swiss authorities are investigating whether several of the country's banks were involved in manipulating foreign currency exchange rates.

The Swiss Financial Market Supervisory Authority, or FINMA, announced the probe in a brief statement Friday.

FINMA says it is "coordinating closely with authorities in other countries" because "multiple banks around the world" could be implicated.

The regulator says it will give no further details on the probe or the banks involved.