MAS ready to assist in FX manipulation probe

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http://www.businesstimes.com.sg/premium/singapore/mas-ready-assist-fx-manipulation-probe-20131025

The Monetary Authority of Singapore (MAS) yesterday said that it has been in touch with foreign regulators looking into the alleged manipulation of foreign exchange (FX) rates, and was ready to assist in investigations.

It is the latest authority to get involved in a global probe into whether traders in the US$5.3 trillion-a-day market sought to manipulate benchmark foreign currency rates.

"MAS has been in touch with foreign regulators on the issue of alleged manipulation in the WM/Reuters foreign exchange benchmark rates. We stand ready to assist in their investigations," the de facto central bank said in a statement.

Singapore is the world's third largest foreign exchange trading centre after London and New York, according to data from the Bank for International Settlements.