Court Quashes Forex Investors' NY Agency Doc Request

Law360 (September 16, 2020, 9:26 PM EDT) — New York’s banking regulator will not have to hand over documents requested by investors accusing Credit Suisse AG of manipulating foreign exchange benchmarking rates, after a federal judge quashed a subpoena the agency attacked as a “fishing expedition.”

U.S. District Judge Lorna G. Schofield issued an order dated Tuesday but filed publicly on Wednesday that granted a bid from the New York State Department of Financial Services to quash a subpoena the agency said requests about 15 million pages of documents concerning its investigation into the forex market.

The one-page order provided no explanation beyond saying that the motion was being…