六大銀行操控外匯受巨罰: 銀行交易員操控外匯舞弊事件

Abstract

本報告主要爲從六大銀行花旗銀行、摩根大通、蘇格蘭皇家銀行、匯豐銀行、瑞士銀行和美國銀行操縱外匯個案中探討交易員操控外匯的方法以及如何防止操縱外匯。蒐集很多關於操縱外匯的資料，當中包括操縱外匯的原因、近年來其他操縱外匯的案例和應對方式、操縱外匯的方式、應付此案件的方法、防止再次發生有效的方法以及相關的金融道德等，再進一步的用這些資料去做此個案的全面分析，並且一起討論了操縱外匯事件發生的主要因素和現今應對操縱外匯的方式是否有效。 本報告討論結果是，我們覺得銀行各階層的管理者都有監督以防操縱外匯事件發生的責任。此外，我們也認爲現階段的處罰方式過於與輕微，導致此事件不斷在金融界重演。因此，我們認爲國際金融機構應修改應付外匯操控的法律方式，以便可以更有效地防止交易員操縱外匯。無論如何，我們認爲身爲金融領域的一分子就應該時時刻刻地遵守金融法規和金融道德。

This research discusses in details the scandal of exchange-rate manipulation that slaps 4.3 billion on six global banks, including UBS, Citi, JPMorgan Chase, HSBC, Royal Bank of Scotland and Bank of America. There are several aspects being focused in this paper in order to give a thorough picture of the issue: the motive of exchange-rate manipulation, related probe in recent years, the mechanism to manipulate the rates, the follow-up punishment, and a further discussion of financial ethics associated with the scandal. By exploring all these fields, we reflect on the effectiveness of current approaches to financial manipulation and try to produce alternatives in handling the problem.

As a result, we found out that the board of directors should introspect the vulnerability of their banks’ management system that somehow allowed manipulation to happen. Besides that, we think that the current punishment, which is fining the guilty banks, does not impose an impact as great enough to warn them because their benefit is merely affected. Therefore, we believe the modification of related criterion in exchange-rate trading would be a possible solution. In any case, being in the financial sector, we must always adhere to all the laws and ethics to ensure its soundness.