EU regulators fine five banks 1.07 billion euros for forex rigging

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. Continue reading EU regulators fine five banks 1.07 billion euros for forex rigging

Advertisements
VENEZUELA CRISIS: EU Parliament votes to recognise Guaido as Venezuela’s interim president

VENEZUELA CRISIS: EU Parliament votes to recognise Guaido as Venezuela’s interim president

The European Parliament has voted to recognise Venezuela’s acting president Juan Guaido, and urged the European Union to follow suit.

It does not change EU policy, but adds to calls for the EU executive and its member states to join the United States, Canada and Brazil in backing Guaido.

Four major European member states have told Maduro to call those elections by the weekend or they will recognise the opposition-backed parliamentary speaker.

The motion urges Brussels accept Guaido as “legitimate interim president of the country until new free, transparent and credible presidential elections can be called in order to restore democracy.”

The text was proposed jointly by the major political groups in the parliament, and backed by a 439 deputies against 104 “no” votes and 88 abstentions. Continue reading VENEZUELA CRISIS: EU Parliament votes to recognise Guaido as Venezuela’s interim president