The New York state financial regulator has subpoenaed three major European banks and a US peer in a probe of foreign-exchange rigging, sources close to the situation said on Friday.
The sources, speaking on condition of anonymity, said that the regulator, Benjamin Lawsky, had sought information about currency practices from French banks BNP Paribas SA and Societe Generale SA.
One of the sources said Credit Suisse Group AG and Wall Street bank Goldman Sachs Group Inc were also targeted.
The subpoenas, served in December last year to BNP Paribas, Societe Generale, Goldman Sachs and Credit Suisse, ask the banks for documents related to their currency operations, one of the sources said, adding that Lawsky was particularly interested in finding out the specific technologies the banks used.
Lawsky is investigating the use of chat rooms and instant messaging by forex traders to rig the price of currencies on the market.
The four banks are cooperating with Lawsky, the person said.
Societe Generale was not immediately available to comment.
Lawsky’s office, BNP Paribas and Credit Suisse declined to comment.
The overall currency investigation began two years ago amid suspicion that Wall Street traders manipulated foreign-exchange prices in line with their own interests.
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