European regulators slam FX banks with €1.1bn fines

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By GlobalCapital
16 May 2019

The EU has fined five big banks about €1.1bn in total after it found that some of their currency traders were involved in a foreign exchange cartel.

Fines are being levied against Citigroup, Barclays, JP Morgan, RBS and MUFG over their traders’ participation in FX market collusion across 11 separate currencies, including the dollar, euro, pound, yen and Swiss franc.

European Commission antitrust regulators concluded that traders from the five ...

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