The EU Commission fines investment banks €371M for participating in a European bonds trading cartel (Bank of America / Natixis / RBS / UBS / UniCredit / WestLB)

By decision of 20 May 2021, the EC found that Bank of America, Natixis, Nomura, RBS (now NatWest), UBS, UniCredit and WestLB (now Portigon) breached EU antitrust rules through the participation of a group of traders in a cartel on the primary and secondary markets for European Government Bonds (EGBs). Background EGBs are debt securities issued in euros by the central governments of the Eurozone Member States in order to raise funds in international financial markets. An EGB represents a borrowing of an amount in euros for a fixed term at a predefined interest rate. The bondholder receives interest payments periodically, and the principal amount borrowed is paid to the bondholder upon expiry of the fixed term. EGBs are first issued on the primary market where a limited number of

L'accès à cet article est réservé aux abonnés

Déjà abonné ? Identifiez-vous

L’accès à cet article est réservé aux abonnés.

Lire gratuitement un article

Vous pouvez lire cet article gratuitement en vous inscrivant.

 

Version PDF

Auteurs

  • McDermott Will & Emery (Brussels)
  • McDermott Will & Emery (Brussels)
  • McDermott Will & Emery (Paris)
  • McDermott Will & Emery (Brussels)
  • Arnold & Porter Kaye Scholer (Brussels)
  • McDermott Will & Emery (Washington)
  • McDermott Will & Emery (Dusseldorf)
  • McDermott Will & Emery (Brussels)

Citation

Philip Bentley, Jacques Buhart, Frédéric Pradelles, Hendrik Viaene, David Henry, Mary Hecht, Max Küttner, Karolien Van der Putten, The EU Commission fines investment banks €371M for participating in a European bonds trading cartel (Bank of America / Natixis / RBS / UBS / UniCredit / WestLB), 20 mai 2021, e-Competitions May 2021, Art. N° 105325

Visites 84

Tous les numéros

  • Latest News issue 
  • Tous les News issues
  • Latest Special issue 
  • Tous les Special issues