EU regulators fine five banks 1.07 billion euros for forex rigging

Barclays, Citigroup and JP Morgan among banks fined $1.2 billion for forex rigging//Crimson Tazvinzwa
BRUSSELS, May 16 (Reuters) – EU antitrust regulators on Thursday fined Barclays, Citigroup, JPMorgan , MUFG and Royal Bank of Scotland a total of 1.07 billion euros ($1.2 billion) for rigging the spot foreign exchange market for 11 currencies

Barclays, Citigroup, J.P. Morgan, MUFG and Royal Bank of Scotland have been fined a total of 1.07 billion euros ($1.2 billion) by EU antitrust regulators for rigging the spot foreign exchange market for 11 currencies.
Swiss bank UBS was exempted from a 285 million euro fine since it alerted the existence of two cartels to the European Commission.
A similar case with the U.S. regulators is ongoing where Barclays, BNP Paribas, Citigroup, J.P. Morgan, Royal Bank of Scotland and UBS have entered related guilty pleas, and been collectively fined more than $2.8 billion.

Advertisements

Africa’s historic Free Trade Agreement signed – Kigali, Rwanda

[youtube https://www.youtube.com/watch?v=Vxr03ultkKQ&w=791&h=445]A

“54 countries with a population no less than one billion marks the creation of the world’s largest economic and free trade area,” International Trade Centre Director, Arancha Gonzalez reacts as the African Continental Free Trade Area is born