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BNP Paribas SA (BNPP.PA)

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BNP Paribas SA - JPMorgan Chase & Co, Morgan Stanley and Barclays Plc pay most in $1.9 bln swaps price-fixing settlement - Reuters
Thursday, 15 Oct 2015 08:00pm EDT 

BNP Paribas SA:JPMorgan Chase & Co, Morgan Stanley & Barclays Plc will pay over half of a more than $1.86 bln settlement resolving investor claims they conspired to fix prices and limit competition in the market for credit default swaps, according to a court filing -RTRS.Details of the settlement's breakdown with those and nine other banks were disclosed in papers filed late on Friday, in federal court in Manhattan, a month after the proposed deal was first announced -RTRS.JPMorgan will pay $595 mln, while Morgan Stanley & Barclays will pay $230 mln & $178 million, respectively, according to the filings -RTRS.The defendants in the case include Bank of America Corp, BNP Paribas SA, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group, HSBC Holdings, Morgan Stanley, Royal Bank of Scotland Group & UBS AG -RTRS.Goldman Sachs, Bank of America & Credit Suisse are set to pay about $164 mln, $90 mln and $159 mln, while Deutsche, Citi and BNP Paribas will pay $120 mln, $60 mln & $89 mln - RTRS.British banks HSBC and Royal Bank of Scotland will pay $25 mln & $33 mln -RTRS.The International Swaps and Derivatives Association will pay $750,000, while Markit Ltd, which provides credit derivative pricing services, will pay $45 mln -RTRS.US & European regulators have also examined potential anti-competitive practices in the CDS market -RTRS.Investors include the Los Angeles County Employees Retirement Association and Salix Capital US Inc -RTRS.  Full Article

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Sept 25 The following financial services industry appointments were announced on Monday. To inform us of other job changes, email moves@thomsonreuters.com.