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European Commission: broker ICAP may have broken EU antitrust rules
June 10, 2014 / 9:55 AM / 3 years ago

European Commission: broker ICAP may have broken EU antitrust rules

BRUSSELS, June 10 (Reuters) - The European Commission has told broker ICAP that it may have broken antitrust rules by facilitating cartels for interest-rate yen derivatives, the European Union’s antitrust enforcer said on Tuesday.

“The Commission has concerns that ICAP may have been involved in cartels concerning yen interest rate derivatives as a facilitator,” it said in a statement.

The probe into ICAP is part of a wider investigation, where the Commission has already fined five banks and one cash broker a total of 669 million euros ($911 million). ($1 = 0.7345 Euros) (Reporting By John O‘Donnell; editing by Robin Emmott)

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