The US legal firm , Scott and Scott , has said that the largest global banks will face fresh legal proceedings in the UK this year over allegedly cheating clients on foreign currencies that could cost the banks money . This follows a series of investigations by regulators , including the firm , who plans to bring the new cases against the banks . The Financial Services Authority ( FCA ) has already taken regulatory action against firms , and now " we would be bringing claims on behalf of banks and investors " in Ireland , said Scott and Scott 's spokesman , with the cases being litigated in the UK .
The US legal firm, Scott and Scott, has said that the largest global banks will face fresh legal challenges in the UK this autumn over allegedly cheating clients on foreign currencies that could cost the banks billions. This follows a series of investigations by regulators, says the firm, who plans to bring the new cases against the banks. The Financial Conduct Authority (FCA) has already taken regulatory action against firms, and now "we would be bringing claims on behalf of institutions and investors" in Europe, said Scott and Scott's spokesman, with the cases being litigated in the UK.