In this episode of the ACI UK podcast series, the focus shifts to the darker side of FX market history - exploring the scandals, shocks, and regulatory responses that have reshaped the industry over the past two decades. Hosts Kim Myers and Noel Singh are joined by Katharine Leaman (Leaman Crellin, former FCA) and Colin Lambert (The Full FX) for a candid discussion on misconduct, market failures, and the evolution of oversight.

The conversation begins with the infamous Forex Cartel scandal, unpacking how informal information-sharing between traders escalated into one of the industry’s most high-profile cases - and why its legal handling remains controversial. From there, the discussion broadens to rogue trading incidents, highlighting how weak internal controls and ignored warning signs allowed losses to spiral out o ...