Lawsky expands forex probe to more banks

• The NY Department of Financial Services has sent subpoenas to Goldman Sachs (NYSE:GS), Credit Suisse (NYSE:CS), BNP Paribas (BNZPY) and Societe General (OTCPK:SCGLY), Reuters reports, expanding its probe of whether banks' electronic trading platforms allow them to front-run clients in the forex market.
• At issue is a latency period between the time an offer is floated and accepted.
• The department is already probing Barclays (NYSE:BCS) and Deutsche Bank (NYSE:DB) over similar concerns and installed monitors at those banks in recent months.