Home Forex Exchange EU antitrust regulators to fine banks for forex exchange rate rigging – sources – Reuters

EU antitrust regulators to fine banks for forex exchange rate rigging – sources – Reuters

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BRUSSELS, May 9 (Reuters) – EU antitrust regulators are set to fine a group of banks including Barclays, Citigroup , HSBC and JPMorgan in the coming weeks for rigging foreign exchange rates, two people familiar with the matter said.

Royal Bank of Scotland, UBS and a small Japanese bank will also be penalised, the people said. The banks will see a 10 percent cut in their fines for admitting wrongdoing.

Credit Suisse is instead fighting the EU antitrust charge. It is not clear if the European Commission will be able to finalise the case in time to levy a fine against the Swiss bank in the coming weeks. (Reporting by Foo Yun Chee; editing by Francesco Guarascio)

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