 "EU, European Union")
EU antitrust regulators on Thursday fined Barclays, Credit Suisse, HSBC, and NatWest €344 million ($390 million) for foreign exchange market rigging, closing a key chapter in a high-profile investigation.
UBS avoided a €94 million fine by alerting the European Commission to the cartel, which was set up via a chatroom known as “Sterling Lads”.
UBS avoided a €94 million fine by alerting the European Commission to the cartel, which was set up via a chatroom known as “Sterling Lads”.
HSBC received the largest fine at €174.3 million, followed by Credit Suisse at €83.3 million, Barclays at €54.3 million and RBS at €32.5 million. Barclays, HSBC and RBS —known as NatWest since a rebranding — admitted wrongdoing in return for a reduced penalty.
NatWest said the misconduct
