This library records 55 enforcement actions involving the foreign-exchange (FX) asset class, spanning 13 of its 59 manipulation techniques and 5 regulators (CFTC, SEC, FCA, OSC, ASIC), filed between 2013-02-06 and 2025-04-29. These are enforcement records, not a random sample of conduct: they reflect what regulators chose to investigate, charge and publish, not the full population of FX manipulation that actually occurred.
FX is not one of this site's six technique families on its own; FX-tagged records are drawn
from whichever family the underlying conduct belongs to — chiefly benchmark and cross-market
rigging (the FX fixing cases), order-book manipulation, and the occasional related-but-distinct
charge such as fraud against a managed-account client. The breakdown below groups those
records by technique rather than by family.
Records by technique
Every technique on this site with at least one FX-tagged record, most-recorded first.
Within this library, FX-tagged records concentrate much more narrowly by technique than the
crypto-tagged ones do: a small number of techniques account for most of the 55
records, consistent with FX enforcement here being dominated by a handful of large,
multi-bank benchmark-rigging matters rather than a long tail of smaller, varied schemes.
CFTC brings the largest share of the FX-tagged records this library holds
(28 of 55).
This says nothing about how common FX manipulation is relative to other markets — only that
the matters regulators have brought and published here cluster this way. The record is also
incomplete by construction:
more than half of this library's total case count is conduct this site classifies as
related but distinct from manipulation itself
, and FX is no exception to that caveat.
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