reading, da fed
Thursday, May 9, 2019
BRUSSELS, Belgium -- Barclays, Citigroup, HSBC, JPMorgan,
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
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
find any evidence of misconduct, is fighting the EU antitrust
It is not clear if the European Commission will be able to
finalize the case in time to levy a fine against the Swiss
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