CBC News spoke with Associate Professor Michael King about the major fines issued to six major U.S. and U.K. banks for manipulating the foreign exchange market. Banks involved in the scandal included Citigroup, JPMorgan, Royal Bank of Scotland, HSBC, and UBS.
King said the executives at the top of these organizations need to take responsibility for their actions.
"I think the issue here is these are fines against the organizations. They're not fines against the individuals involved. It seems unfair that the shareholders, the investors are going to be the ones shouldering the fine, not the individuals who benefited from it," said King.
