LONDON Nov 12 (Reuters) – The Frankfurt-listed shares of JP
Morgan, HSBC and Royal Bank of Scotland
fell in early trading on Wednesday after regulators imposed
penalties to five banks in a landmark settlement over
allegations of price fixing in the foreign exchange market.

Global regulators imposed penalties totalling $3.4 billion
on JPMorgan, HSBC, RBS, UBS and Citigroup.

Royal Bank of Scotland and JP Morgan were also fined
for attempting to manipulate foreign exchange benchmarks in a
year-long probe that has put the largely unregulated $5
trillion-a-day market on a tighter leash, with dozens of dealers
suspended or fired.

JP Morgan’s Frankfurt-listed shares dipped 1.2
percent. Royal Bank of Scotland’s Frankfurt-listed shares fell
declined by 1.3 percent while HSBC’s Frankfurt-listed
shares retreated by 1.4 percent.

“Now that the fines have been done and dusted, it may not be
taken too badly by the market,” said Terry Torrison, managing
director at Monaco-based McLaren Securities.

(Reporting by Sudip Kar-Gupta)