Linklaters, Allen & Overy (A&O), Slaughter and May, and Clifford Chance (CC) are among the firms to have been drafted in by some of the world’s biggest banks as UK and US regulators imposed fines totalling £2.65bn over the manipulation of foreign exchange markets.

Linklaters acted for Royal Bank of Scotland (RBS), which was fined a combined £400m settlement by the UK’s Financial Conduct Authority (FCA) and the US Commodity Futures Trading Commission.