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EU fines Barclays, RBS, HSBC, Credit Suisse 344 million euros for forex cartel -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Barclays logo can be seen facing the displayed stock graph in this illustration, taken on June 21st 2017. REUTERS/Dado Ruvic/Illustration

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BRUSSELS, (Reuters) – EU antitrust regulators were fined Thursday Barclays (LON) RBS (LON), HSBC Credit Suisse (SIX?) 344 Million Euros ($389.7M) to take part in a foreign currency spot trading cartel.

UBS was able to avoid a fine of 94 millions euros because it alerted European Commission about the cartel. According to the EU competition regulator, forex spot trading in G10 currencies was what the cartel was focusing on.

($1 = 0.8828 euros)

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