Why Are Big Banks Overhauling FX Trading?

Banks are taking proactive measures to regulate Forex trading by limiting information disclosure and modernizing trading platforms. This is in response to ongoing investigations into traders leaking confidential information and colluding to rig currency benchmarks. The scandal could result in significant fines, prompting banks to act in self-preservation and regain client trust.

What measures are banks introducing to limit information about confidential customer trades?

What prompted the banks to take action regarding the forex industry?

What are the allegations against forex traders mentioned in the text?

How might the ongoing investigations impact the forex industry financially?

In what ways are banks trying to regain the confidence of their clients?