The EU Commission imposes fines of nearly €94 millions on four major banks for collusive behaviours (RBS / JPMorgan / UBS / Credit Suisse)

European Commission Settles Two Swiss Franc-Related Derivatives Investigations* The European Commission has settled two cartel investigations and sanctioned four major banks in the Swiss Franc-related derivatives market, imposing total fines of approximately 94 million euros, for violations of European Union antitrust rules. Interest rate derivatives (including swaps, futures and options) are financial products used by banks or companies as insurance mechanisms to manage the risk of interest rate fluctuations. The first cartel

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  • Bird & Bird (London)
  • King’s College (London)

Quotation

James Ashe-Taylor, Ana Rojo Prada, The EU Commission imposes fines of nearly €94 millions on four major banks for collusive behaviours (RBS / JPMorgan / UBS / Credit Suisse), 21 October 2014, e-Competitions October 2014, Art. N° 69840

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