EU fines 3 banks for "cartel"

EU fines 3 banks for “cartel”


The European Union (EU), investment firms Bank of America Merrill Lynch, Credit Agricole, Credit Suisse and Deutsche Bank have formed a cartel in the bond trade, 3 of them were fined more than 28 million euros, 1 of them were fined for disclosing the cartel. announced that he was saved.

Margrethe Vestager, Senior Vice President of the EU Commission, announced that Bank of America Merrill Lynch, Credit Agricole, Credit Suisse and Deutsche Bank have established a cartel in dollar-denominated government bonds trading in European secondary markets.

In the statement, it was stated that these 4 investment firms made collusion in their bond trading strategies, shared sensitive information and coordinated prices, and it was noted that the cartel harmed the financial markets in Europe.

In the statement, it was pointed out that the actions in question were against the EU competition rules, Bank of America Merrill Lynch was fined 12 million 642 thousand euros, Credit Suisse 11 million 859 thousand euros, Credit Agricole 3 million 993 thousand euros, Deutsche It was reported that Bank was not fined for disclosing the cartel.


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