Wednesday

24th Aug 2016

Ticker

Commission accuses three more banks of rate fixing

The European Commission has accused Crédit Agricole, HSBC and JPMorgan Chase of cartel membership manipulating the price of financial derivatives. Competition commissioner Joaquin Almunia confirmed Tuesday that the banks could be fined 10 percent of turnover. Eight banks were fined €1.7 billion in December as part of the scandal.

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