European Union fines Barclays, RBS, HSBC, Credit Suisse 344 million euros for foreign exchange cartel

BRUSSELS (Reuters) – EU antitrust regulators on Thursday fined Barclays, RBS, HSBC and Credit Suisse a total of 344 million euros ($389.7 million) for participating in a trading consortium spot forex.

UBS avoided a €94 million fine because it notified the cartel to the European Commission. The EU’s competition regulator said the cartel has focused on spot foreign exchange trading of G10 coins.

(1 dollar = 0.8828 euros)

(Reported by Foo Yun Chee)

https://whbl.com/2021/12/02/eu-fines-barclays-rbs-hsbc-credit-suisse-344-million-euros-for-forex-cartel/ European Union fines Barclays, RBS, HSBC, Credit Suisse 344 million euros for foreign exchange cartel