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reading, da fed

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mick Member Level  Saturday, 05/11/19 01:54:48 PM
Re: NYBob post# 24621
Post # of 24808 
reading, da fed

re;

Thursday, May 9, 2019

BRUSSELS, Belgium -- Barclays, Citigroup, HSBC, JPMorgan,
and three
other banks are set to be fined by European Union antitrust
regulators in coming weeks for rigging the multi-trillion dollar
foreign exchange market,
two people familiar with the matter said.

The other three lenders are Royal Bank of Scotland, UBS, and a
small
Japanese bank, the people said.

The banks will see a 10 percent cut
in their fines for admitting wrongdoing.

In contrast, Credit Suisse, which has previously said it did
not
find any evidence of misconduct, is fighting the EU antitrust
charge.
It is not clear if the European Commission will be able to
finalize the case in time to levy a fine against the Swiss
bank
in coming weeks.

The EU antitrust enforcer,
which has been investigating the case
over the last six years and could hand out fines up to 10 percent
of a company's global turnover
for breaching EU rules, declined
to comment. ...

... For the remainder of the report:

https://uk.reuters.com/article/us-eu-antitrust-banks/seven-banks-face-eu-antitrust-fines-for-forex-rigging-sources-idUKKCN1SF1VJ

xxxx xxxx
God Bless



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