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Prof. Marti Subrahmanyam on recent allegations of international exchange-rate fixing

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Excerpt from Business News Network -- "[The foreign exchange market] is pretty much an unregulated market for the most part. There are some national regulations, but if you ask who is the global policeman for the foreign exchange market, there is none. So this is the problem -- I think this is the same problem, or a similar problem, in the case of the LIBOR scandal. There is no clear policeman, although, nominally, the Bank of England and other British regulators, UK regulators, have been in charge, but they haven't really been following the details. So there is really no one in charge."

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