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UK Fines 4 Banks, Including HSBC HOLDINGS, GBP104.5M for Anti-competitive Mkt Practices
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The UK's Competition and Markets Authority (CMA) reached settlements with Citigroup (C.US), HSBC HOLDINGS (00005.HK), Morgan Stanley (MS.US) and Royal Bank of Canada, which have been fined a total of GBP104.5 million for allegedly exchanging sensitive information about the pricing of UK government bonds between 2009 and 2013. The CMA found in May 2023 that the four banks and Deutsche Bank AG breached the competition rules, and Deutsche Bank AG was granted immunity from the fine after admitting anti-competitive practices. AAStocks Financial News |
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