May 20, 2014 / 9:45 AM / 4 years ago

EU Commission charges HSBC, JPMorgan, Credit Agricole with rigging

BRUSSELS, May 20 (Reuters) - European Union antitrust regulators charged on Tuesday HSBC, JPMorgan and Credit Agricole with rigging financial benchmarks linked to the euro.

The move followed a record 1.7-billion-euro ($2.3 billion) fine levied on six banks including Deutsche Bank, Royal Bank of Scotland and Citigroup last December for similar offences.

“The (European) Commission has concerns that the three banks may have taken part in a collusive scheme which aimed at distorting the normal course of pricing components for euro interest rate derivatives,” the EU competition authority said.

$1 = 0.7289 Euros Reporting by Foo Yun Chee; editing by John O'Donnell

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below