The EU Commission imposes a fine of €1,07 billion on five banks for participating in two foreign exchange spot trading cartels in the banking sector (Barclays / RBS / Citigroup / JPMorgan / MUFG)

On 16 May 2019, in two settlement decisions, the European Commission ("EC") has fined Barclays, RBS, Citigroup, JPMorgan and MUFG 1.07 billion EUR for participating in two foreign exchange spot trading cartels (see EC press release here). “Foreign exchange spot-trading activities are one of the largest markets in the world, worth billions of euros every day,” said Margrethe Vestager, European

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  • Bird & Bird (Brussels)

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José Rivas, The EU Commission imposes a fine of €1,07 billion on five banks for participating in two foreign exchange spot trading cartels in the banking sector (Barclays / RBS / Citigroup / JPMorgan / MUFG), 16 May 2019, e-Competitions May 2019, Art. N° 94459

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