Saturday 25 May 2019
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business-standard - 9 days ago

EU fines five major banks 1 bn euros for currency collusion

The EU s powerful anti-trust authority on Thursday fined five major banks -- including Barclays and Citigroup -- for collusion in the massive foreign exchange currency market. The European Commission fined Barclays, the Royal Bank of Scotland, Citigroup, JPMorgan and Japan s MUFG Bank a total of 1.07 billion euros after finding that traders colluded to fix exchange rates using chat rooms, a statement said.


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