EU fines banks over $1 billion over foreign exchange cartel

Author: 
AP
article author: 
ID: 
1558000560714896400
Thu, 2019-05-16 09:47

BRUSSELS: European Union regulators have fined five banks a total of more than €1 billion ($1.1 billion) for allegedly colluding in the trade of large sums of foreign currency.
The EU Commission said Thursday that investigators found that some bank employees in charge of spot trading in 11 currencies “exchanged sensitive information and trading plans.” They sometimes coordinated strategies through online professional chat rooms.

Main category: 


from ArabNews http://bit.ly/2W4VncV
via Latest News of Dubai

Post a Comment

0 Comments