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Osborne to announce new rules on foreign currency markets

11 June 2014 Last updated at 23:15 BST

The manipulation of foreign currency markets by bankers is to be made a criminal offence.

BBC News understands that the Chancellor George Osborne will use his speech at Mansion House tomorrow to unveil new rules, following allegations that the multi-trillion-pound market was being fixed.

The market is largely unregulated and a number of major banks are facing inquiries.

The BBC's business editor Kamal Ahmed reports.