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In an op-ed, Prof. Roy Smith discusses how to address misdeeds in the foreign exchange market

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Excerpt from Financial News -- "Libor rate-setting rules are being revised, as they should be. The FX investigation may discover individuals that need to be punished, and maybe some market conduct rules that should be changed. But that does not mean that the FX investigations should be allowed to turn into another instance of vengeance against banks to be settled by a round of multibillion-dollar fines paid by their shareholders."

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