Bloomberg News reporters win Wincott Award

The Wincott Foundation awarded Bloomberg News the Wincott Award for Financial Journalism in 2013 at the annual Awards Luncheon at Mansion House in the City of London.

Bloomberg News reporters Liam Vaughan, Gavin Finch, Ambereen Choudhury and Bob Ivry were recognized for their coverage of how foreign-exchange dealers sought to rig benchmark currency rates for more than a decade. Their reporting prompted at least a dozen authorities on three continents to open investigations.

“This was one of the most far-reaching ‘financial market scandal’ stories of the year,” judges, including chairman Sir Geoffrey Own, former editor of the Financial Times, wrote in the award citation. “The Bloomberg team exposed specific acts of collusion by traders, opening the way for further investigation by journalists from other organizations and posing questions for industry regulators.  The judges were impressed to see Bloomberg pursuing a story like this with skill, determination and the necessary resources.”

“We are grateful to be recognized for reporting that advanced the public interest by showing how the world’s biggest financial market is vulnerable to abuse,” said Matthew Winkler, editor-in-chief of Bloomberg News, in a statement.

Every year, the Wincott Foundation’s annual press awards recognize outstanding achievement in the field of economic, business and financial journalism. The financial journalism award recognizes the best contribution to financial, business and economic journalism in any medium or mix of media in 2013.

The Wincott Foundation was established in 1969 in honor of Harold Wincott, the most distinguished economic journalist of his day. It seeks to contribute to a better understanding of economic issues, principally by supporting and encouraging high-quality economic, financial and business journalism, in the UK and internationally.